Yesterday Vivendi confirmed that it was in talks with Chinese internet giant Tencent to acquire a 10-20% stake in global leader Universal Music Group at a $33.6 billion valuation. MIDiA analyst Mark Mulligan looks at why Tencent might want to invest as much as $6.7 billion in UMG. _______________________________________ By…
Author archives: Bruce Houghton
Discogs Adds Inventory Platform For Professional Record Sellers, Serious Music Collectors
Music marketplace and community Discogs has launched NearMint, a new software platform for professional sellers. NearMint was created to help professional and hobbyist music sellers manage their inventory and business more effectively. The platform already manages over 1.9M inventory items for a number of large sellers who were part of…
18 Connected With Indie Label Fast Cash Boyz Indicted By Federal Grand Jury
A federal grand jury has indicted 18 people connected with independent label Fast Cash Boyz Entertainment with charges that include bank fraud and conspiracy to distribute controlled substances. The charges allege that all eighteen defendants, 17 from Memphis and one defendant from Los Angeles, were affiliated with Fast Cash Boyz…
Sony Music’s Thread Shop Acquires Araca Group To Expand Merch Operation
Sony Music’s music merch division, The Thread Shop has acquired the music merch department of The Araca Group for an undisclosed sum. Araca Group’s merch division clients include Led Zeppelin, P!nk, Shania Twain, Sugarland and Zayn. That roster now shifts to The Thread Shop alongside their clients which include Bob…
‘All In’ Ticket Marketplace TickPick Raises $40 Million
No-fee ticket marketplace TickPick has announced a $40 million investment from PWP Growth Equity in the startup’s first institutional funding round. The investment will allow TickPick to accelerate marketing and business development initiatives and establish a data team to utilize machine learning and artificial intelligence. TickPick expects to surpass $200…
WED. BRIEF: TickPick Raises $40M • Sony Expands Merch Ops • Chuck D Sues reach Global For $1M • More
WEDNESDAY 8.7.19
Music Business News From Around The Web
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Amazon Prime Student Members Get Music Unlimited For $.99 Per Month
The streaming price race to the bottom continues. Following on the heels of new partnership deals and discounts from Spotify and Apple Music, Amazon Prime Student members can now get Amazon Music Unlimited for just $0.99 per month. If the students are new to Amazon Prime. they can also get…
Here Is The Form You Need To Fill Out Now If PledgeMusic Owes You Money
UPDATED: As part of part of our ongoing investigation into PledgeMusic and its recent insolvency filing, Hypebot contacted the UK government’s Insolvency Service to learn the procedures and deadlines for the artists, labels and fans owed money to file a claim, as well as exactly what PledgeMusic assets were available…
Fan Gets Call From Metallica After Song Scares Off Cougar
A Vancouver Island woman who credits a Metallica song with saving her from a cougar attack got to thank the band personally when frontman James Hetfield called. Dee Gallant was reportedly walking her husky-retriever, Murphy, down a logging road in south Duncan two weeks ago when she caught a glimpse…
Bandzoogle Adds Commission-Free Fan Subscriptions
Bandzoogle has added a commission-free fan subscription feature to its popular music web site and marketing platform. Artists can now offer online fan clubs within their websites, create stronger fan communities, add income streams and keep 100% of the revenue. 100% commission-free and available to on all three tiers of…