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The amount that the RIAA paid out to its lawyers in 2008? $16,000,000. The amount that the RIAA recovered as a result of their efforts? $391,000.<< Back To News Index | Back To Top
The U.S. single-track download market slipped 0.2% to 597.4 million tracks in the first half of the year according to Nielsen SoundScan.On a more positive note, download sales of the more profitable album format grew by 12.7% to 42.2 million. Digital albums now make up 27.4% of all album sales. That's encouraging news, but not nearly enough to offset the continuing decline in CD sales.
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A new NPD Group study based on just under 4000 consumer image from www.splicelicio.us interviews predicts that between 7 and 8 million...A $1 Billion Opportunity
The numbers are all based on a limited survey but the future of streaming music looks promising. "After the services launch, user numbers could conceivably rise substantially, as they upgrade to newer connected devices and actually experience the benefits of cloud-based music," said Russ Crupnick, VP and senior entertainment analyst for NPD. "The market opportunity is close to $1 billion in the first year, which is roughly two-thirds the revenue garnered by the current pay-per-download model."
"We dont yet know what, if any, effect these services might have on the traditional pay-per-download music model, or whether consumers will ultimately spend more on digital music overall, if or when any of these options eventually rolls out," Crupnick added.
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A U.S. District Court has issued a summary judgment in favor of YouTube in the longstanding $1 billion case brought by Viacom.Viacom may appeal, but given similar recent judgments in other courts, could choose not to. "This is an important victory not just for us, but also for the billions of people around the world who use the web to communicate and share experiences with each other," wrote Kent Walker, Vice President and General Counsel of YouTube parent Google on the company's blog.
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Just as when Apple recently bought Lala.com, yesterday's purchase of music streaming service Melodeo by computer giant Hewlett Packard..."Melodeo is one of the only companies which possess the technology to aggregate a consumers digital media, manage it in the cloud and stream it to the user on any device, along with additional streams of content," said HP spokeswoman Mylene Mangalindan in a statement. "While it is premature for us to unveil specific plans as it relates to Melodeo, we expect to use this technology to deliver digital content across multiple devices and platforms."
Melodeo's Killer App: Effin Genius
"Pandora on steroids" is how Melodeo's Dave Dederer recently described the company's Effin Genius iPhone app.
"It looks at all of the music files and playlists on your iPhone or iPod and then uses our own proprietary collaborative filter to generate new playlists based on the music you already have," said Dederer, a former member of the indie rockers Presidents of the United States of America. Melodeo also has also developed custom mobile apps for bands and music oriented games.
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Hip Hop pioneers Public Enemy has been forced to drop their fundrasing goal on fan funding site Sellaaband from $250,000 to $75,000. Six months into their campaign they have raised $56,000. On Sellaband, Public Enemy posted:Today, we are announcing that we are now offering a total 3,000 parts for Believers at a value of $25.00 each to raise a total of $75,000. The $75,000 will be used to fund the complete recording costs and expenses for our next album. As of April 10th, we have already sold 2,225 parts. As a result, we only need to sell 775 additional parts to reach our new goal.
More here.
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JPMorgan Chase is facilitating an auction for Indie music publisher Bug Music with an asking price of $300 million. As reported by the New York Post, Bug has already received the first round of bids from numerous interested parties.<< Back To News Index | Back To Top