Why is Wall Street so unhappy with Tencent Music Entertainment? Despite the fact that revenues surpassed estimates — having come in at 10 cents per share, more than the nine cents per share that experts expected — Tencent Music Entertainment’s stock to…
Author archives: Paul Resnikoff
LA Opera Hires Outside Counsel to Manage the Placido Domingo Crisis — Here’s Their Official Statement
The LA Opera is now responding to a full-blown crisis involving its General Director Placido Domingo. The famed opera star is now besieged with allegations of rampant sexual abuse involving nine different women. That has put at least two major organiz…
GoDigital Pumps $40 Million Into Cinq Music for an Even Bigger IP Shopping Spree
The time to purchase massive amounts of music-related IP is now. Hipgnosis isn’t the only one making massive bets on music IP. Just this morning, GoDigital Media Group pumped $40 million into its subsidiary, Cinq Music, for publishing and recording as…
No Charges Against NYPD Commander Who Ordered Officers to ‘Shoot 50 Cent on Sight’
The NYPD commander was apparently making a joke at 50 Cent’s expense. After a lengthy investigation, the NYPD’s Internal Affairs Bureau concluded that while 72nd Precinct Deputy Inspector Emmanuel Gonzalez did in fact tell his officers to shoot 50 Cent…
Spotify, Apple, Pandora, Amazon, Google Warn Against Ditching the PRO Consent Decrees — “The Resulting Chaos Will Be Felt by Everyone in the Music Industry”
Should the Department of Justice really do away with the ASCAP and BMI Consent Decrees? Not according to major streaming services like Spotify, Apple Music, Pandora/Sirius, Amazon Music, and YouTube owner Google/Alphabet. As the U.S. Department of Just…
A Definitive Louis Armstrong Documentary Is In the Works — With Ron Howard’s Imagine Documentaries Leading the Effort
Earlier today, it was announced that Ron Howard’s Imagine Documentaries had reached a deal with the Louis Armstrong Educational Foundation to produce a feature-length documentary about the famed jazz musician and singer. The announcement comes on the h…
Apple Music’s Analytics Dashboard for Artists Is Officially Out of Beta — And Available to Everyone
Apple Music has been tweaking its analytics dashboard for artists for more than a year. Now, it’s ready for prime time. We first reported on Apple Music’s beta launch of its analytics dashboard for artists in June of last year. The data tools are pa…
Entercom Drops Nearly $70 Million on Two Podcasting Acquisitions
Who says Spotify gets to have all the fun? Entercom, a Pennsylvania-based broadcasting company and radio network, has acquired two prominent podcast companies, Cadence13 and Pineapple Street Media. The companies cost Entercom a total of $70 million. T…
Sony Music Bulks Up Merchandising Unit With Araca Group Acquisition
Sony Music’s merchandising unit has acquired The Araca Group, a New York-based entertainment company and merchandise-production agency. The Araca Group’s resources (and some employees) will be absorbed by Sony Music’s merchandise brand, The Thread Shop…
Vivendi Is Selling a 10-20% Chunk of Universal Music to Tencent — UMG’s Lucian Grainge Addresses the Troops
After delaying the sale of Universal Music Group, Vivendi is now auctioning off a small chunk of the major label to Tencent. Vivendi SA’s on-again, off-again sale process of Universal Music Group is apparently back on. And with it, the beginnings of a…