Could SiriusXM buy out Live Nation?
Live Nation’s stock has recovered following a New York Times exposé last April that sent shares plummeting. Financial analysts have also posited the idea of SiriusXM buying out Live Nation, sending the company’s stock soaring 14%. Citi analyst Jason Bazinet said the buyout would create a “vertically-integrated music titan” with “several strategic benefits.” These include cross-promotion, data sharing, and customer activations. Live Nation shares opened today at $50.18.
YouTube spends $25 million to combat fake news.
YouTube has announced it has invested $25 million to promote ‘authorative’ journalism. The video platform will promote videos from vetted news sources. YouTube will provide funding in 20 global markets to support legitimate news organizations in “building sustainable video operations.”
Negotiations between AFM musicians and networks resume.
Negotiations between TV musicians and broadcast networks over payment for online shows have resumed. The musicians – members of the American Federation of Musicians (AFM) – have not received adequate compensation for their work on late night shows broadcast online, including Jimmy Kimmel Live!, The Late Show With Stephen Colbert, The Voice, The Tonight Show Starring Jimmy Fallon, and Saturday Night Live. The AFM alleges that the networks’ recent proposal for ad-supported residuals still “falls far short of what the networks are paying other performers for this type of work.”
How many Sonos speakers do YOU own?
Sonos’ S-1 filing has revealed the total number of registered Sonos speakers. Consumers in 6.9 million households in the US own 19 million Sonos speakers – about 2.7 per household on average. Over half of Sonos-owning households have more than one device. A fourth own more than three devices. Only 39% of consumers in the US purchased a single speaker.
Sean Combs criticizes the music industry’s lack of investment in “black enterprise.”
In an interview with Variety, Sean Combs has lambasted the music industry for allegedly “making so much money off [black] culture.” Speaking about his personal motivation to help black artists and executives, Combs said,
Garth Brooks announces stop at Notre Dame Stadium.
Garth Brooks has announced he will become the first artist to perform at Notre Dame Stadium. He didn’t announce a date for his performance at the outdoor football stadium. Brooks will reportedly coordinate with the school’s football schedule.
Ariana Grande will headline Amazon’s Prime Day Concert.
Amazon has announced Ariana Grande will headline the Amazon Music Unboxing Prime Day Concert. Held in New York on July 11th, the company will stream the event globally on its website. Grande joins previously announced artists Kelsea Ballerini, Alessia Cara, and Julia Michaels.
f(x)’s Amber Liu signs with Steel Wool Entertainment.
K-Pop star Amber Liu has signed with Steel Wool Entertainment. The f(x) member had told Forbes she had wanted to pursue a career in the US.