7/10/08 Sony BMG's Mirabella Headed Towards Nokia
7/10/08 Sony BMG's Mirabella Headed Towards Nokia
Sony BMG Senior Vice President and General Manager of US Digital Sales Adam Mirabella is now heading towards Nokia, according to an email forwarded to Digital Music News. The note, sent by Mirabella, pointed to the new role of Director of Global Digital Music Retail at Nokia, based in White Plains, NY. The new gig starts October 13th.
The note did not contain extra details about the post, or reasons for the departure. At Sony BMG, now Sony Music Entertainment, Mirabella was responsible for overseeing US-based digital revenues and account relationships, and chasing sales and strategic marketing opportunities.
7/10/08 Classic Lyrics... Now Fashionable In Britain
7/10/08 Classic Lyrics... Now Fashionable In Britain
Lyrics to famous songs like "ABC," "My Girl," and "Wild Thing" will soon grace a British fashion line, thanks to a deal between EMI Music Publishing and retail giant Sainsbury's. The arrangement involves the Tu Clothing line, available at 281 of Sainsbury's 545 locations. The concept will traverse clothing for men, women, and children, and focus on easily-recognizable song lyrics.
The concept was structured through the Lyrics division of EMI Music Publishing, a group that has also brokered tie-ins for posters, greeting
cards and board games over the past few years. The partnership was also threaded together by Corporate Creative Licensing. "The people at Sainsbury's and Tu Clothing really understand the importance of music and its legacy, and we’re looking forward to bringing lyrics to life through what will hopefully be a long partnership," said EMI Music Publishing executive vice president of Media and Business Development Jonathan Channon.
7/10/08 Global Markets Under Serious Pressure; More Questions Surround Music
7/10/08 Global Markets Under Serious Pressure; More Questions Surround Music
Updated to include trading activity within the last hour of close.
The now-global financial crisis dragged exchanges across Asia, Europe, and the United States on Monday, despite the recent passage of a massive bailout package. During a roller-coaster day, the Dow Jones Industrial Average tanked more than 800 points, a one-day record that dragged the needle below 10,000. That prompted a late-day buying rally, leaving the exchange at a more mild, 350-point drop for the day.
US legislators finally approved a rescue initiative that exceeds $700 billion, though expectations of a successful resolution appeared baked into pre-Monday valuations. Instead of gains, the market collectively appeared doubtful that the bailout would reinvigorate markets, and indeed, some time will be required to unfreeze a tightening credit climate.
Music-related stocks were battered by the broader malaise, though the late-stage rally mitigated the declines. Warner Music Group (WMG) slipped to $6.09 before recovering to $6.61, down 4.21 percent. Apple (AAPL) had its ups and downs, dropping to a 52-week low of $87.54 before landing at $98.14, up 1.1 percent.
European and Asian indices offered a dreary prelude to the profound intraday drop. Banking bailouts, aggressive deposit guarantees and aggressive interventions are now part of the European reality, and markets expressed little confidence in the future. Asian markets also stumbled, and Russia actually closed its markets prematurely.
The backdrop is rippling into the music industry, though the exact fallout remains difficult to predict. Issues related to consumer confidence undoubtedly impact the CD, already a tanking commodity. Music-focused entrepreneurs may also be forced to scrape together funding from sources outside of Sand Hill, including benevolent angels and even credit cards. The new reality could thin the field a bit and slow the entrance of startups, though troubled markets are frequently weathered by profitable, financially-disciplined companies.
2/10/08 ...Oasis, Radiohead Exclusives Also Hitting
2/10/08 ...Oasis, Radiohead Exclusives Also Hitting
MySpace Music has now layered exclusive content from both Oasis and Radiohead, part of a continued build-out. The Oasis album, Dig Out Your Soul, will reside on MySpace Music as a worldwide exclusive until Monday, October 6th. The album is the first release from the band in three years.
Elsewhere, MySpace is also priming an exclusive video from Radiohead. The vid, "Reckoner," is based on a track on In Rainbows and was created by Clement Picon. The concept was originally submitted as a one-minute short, part of a broader animated video contest. Picon was then asked to expand the concept into a full-length piece.
2/10/08 No Satellite Bailout: Sirius Moves Towards 50-Cent
2/10/08 No Satellite Bailout: Sirius Moves Towards 50-Cent
In a market without liquidity, companies like Sirius XM Radio could face extreme difficulties. Despite a broader bounce on Tuesday, Wall Street dragged shares of SIRI southward to $0.57, a low-lying result. That follows a sub-dollar push earlier in the month, based on fears related to a massive debt overhang. Over the next year, Sirius XM faces debt obligations surpassing $1 billion, an unenviable result in current markets.
Bottom-feeders grabbed quick gains on stocks like Apple (AAPL) on Tuesday, though the Sirius situation screams caution. Those eying a penny-gem a few weeks ago have been punished, though of course the broader picture has also been brutal.
Meanwhile, the freshly-merged Sirius XM is now starting to blend its dial. That is part of an initial, "Best Of" project, one that plucks top stations from either provider and makes them universally available. The selected stations include those from Howard Stern, Oprah & Friends, the NBA, NHL, and NASCAR, a cross-dial crossover that costs a few extra dollars per month.
