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Record Labels Reach Deal to Pay Artists $50 Million in Unpaid Royalties

Authored by Mark Hefflinger on May 4, 2004 - 3:22am.
New York -- New York state Attorney General Eliot Spitzer announced on Tuesday that the state has reached an agreement with the major record labels and music publishers that will result in the distribution of $50 million in unpaid royalties to thousands of musicians. The payout comes after a two-year investigation into the accounting practices of the labels, which found that many artists and writers were not being paid royalties because record companies had failed to maintain contact with the performers and had stopped making required payments. In addition to more obscure artists, some of the checks will be going to top-sellers like David Bowie, Sean Combs, Dolly Parton and Dave Matthews. "As a result of this agreement, new procedures will be adopted to ensure that the artists and their descendants will receive the compensation to which they are entitled," said Spitzer. The labels said they will now list names of artists owed unpaid royalties online, as well as work with industry groups and unions to locate artists.
tags: Deals | Artists | Royalties | Record Labels |

Sony Launches Connect Digital Song Store

Authored by Mark Hefflinger on May 4, 2004 - 3:21am.
Chicago -- Sony on Tuesday announced the formal launch of the media and electronics conglomerate's Connect online digital music store. The service, which sells $0.99 downloads a la carte like Apple's iTunes, launched with a library of 500,000 tracks from all the major labels and many independents, encoded in Sony's proprietary ATRAC3 format. Users will be able to play tracks on up to three PCs and burn up to 10 CDs of songs purchased. Tracks may also be transferred an unlimited number of times to Sony portable devices, such as its Hi-MD Walkman, which the company also launched on Tuesday. Sony said it plans to add compatibility for devices from other manufacturers. The company also partnered with United Air Lines to allow Connect users to redeem their frequent flier miles for song downloads.
tags: Sony | Digital | Musics |

Napster to Launch Canadian Service This Summer

Authored by Mark Hefflinger on May 4, 2004 - 3:20am.
Los Angeles -- Napster, a unit of Roxio that offers music subscriptions and a la carte downloads, announced on Tuesday that it will launch a localized version of its service in Canada this summer. Roxio, whose Ontario office will serve as Canadian headquarters for the service, said that the Canadian Napster will feature Canadian-specific radio stations, promotions and content from domestic acts. The company also has plans to launch a U.K. version of its service, as does rival Apple.
tags: Napster | Summer | Canadian Service |

Targeted Broadband Ad Developer Invidi Technologies Raises $12 Million

Authored by Mark Hefflinger on May 4, 2004 - 3:18am.
Edmonton, Alberta -- Invidi Technologies, a provider of targeted advertising technology for the broadband industry, announced on Tuesday that it has raised $12 million in its first round of venture capital financing, co-led by Menlo Ventures and EnerTech Capital. Invidi, founded in 2000, plans to use the new funds to commercialize its targeted advertising software for digital TV set-top boxes. The company said that its technology allows advertisers and media buyers to selectively target cable TV viewers with "the same pinpoint accuracy" as direct mail and database marketing.
tags: VC | Broadband | Invidi Technologies |