Join the Club: MOG Wants More Money for Digital Music, Too
Digital music service MOG, which raised $10 million a year ago and $15 million altogether, wants more. It’s out trying to put together a funding round of $25 million to $30 million.
Nothing new there: Everyone is raising money–lots of money–for digital music services. Again. Even though the industry’s track record for the last decade has ranged from uninspired to lousy.
Investors who’ve seen MOG’s pitch tell me the company is projecting $14 million in revenue for next year, which seems like a very, very long stretch: Industry scuttlebutt places MOG’s total subscriber base in the 20,000 range, which is where Thumbplay was before it gave up and sold to Clear Channel earlier this year.
http://mediamemo.allthingsd.com/2011...tal-music-too/
Report: Citi Quietly Shopping EMI
While Warner Music Group's expected sale has been attracting headlines in recent weeks, the fate of EMI has been hovering in the background. According to the New York Post, Citigroup has been "quietly soliciting interested parties" and discussing which pieces of the music company they would be interested in, as well as how quickly a deal could be made.
"They're sorting the goats from the sheep, rather than entertaining all comers," an anonymous source told the paper.
http://www.fmqb.com/article.asp?id=2139875
Clear Channel kicks tires on Playlist.com assets
Howard Stern Lawsuit or no Howard Stern Lawsuit
Internet Radio Blogger Tyler Savery "Pumpty-Dumpty" deliberations or no deliberations
Business goes on as usual . . . don't get caught with your pants down!
Quote:
Clear Channel Communications is one of the companies taking a serious look at the assets of Playlist.com, the once promising digital music service that filed for bankruptcy protection last summer, according to a source with knowledge of the negotiations.
Details are few, but apparently Clear Channel, the media conglomerate with a large stake in broadcast radio, concert promotion, and billboard advertising, is interested in the user interface and other technology belonging to the defunct Playlist.com, once known as Project Playlist.
Read more: http://news.cnet.com/8301-31001_3-20...#ixzz1HT4RWIR9
Slacker to deliver customizable ESPN programming
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The ESPN Radio station on Slacker will offer programs like “Mike & Mike in the Morning,” “SportsCenter” and “The Herd with Colin Cowherd.” Slacker users will be able to add ESPN Radio content into their customized music stations, or opt to receive hourly sports news updates — in English or Spanish — from ESPN SportsCenter.
http://textpattern.kurthanson.com/articles
More Details Emerge On Stern-Sirius Lawsuit
Quote:
The WSJ notes that it is unclear, but the disagreement may revolve around whether XM subscribers added by the Sirius-XM merger count towards the subscriber goals laid out in Stern's contract.
Sirius XM told the WSJ that Stern is a "valued part of our company," and added that the company was "surprised and disappointed" by the legal action. "We have met all of our obligations under the terms of our 2004 agreement with Howard, his agent and production company."
http://www.fmqb.com/article.asp?id=2142205
