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Report: No Strong Causal Link Between File-Sharing, Music Industry Slump

Authored by Mark Hefflinger on June 13, 2005 - 9:56am.
Paris -- In a report issued on Monday, an European economic authority downplayed the role of Internet file-sharing in the recording industry's 20% revenue slump between 1999 and 2003. The Organization for Economic Co-operation and Development (OECD) said it is difficult to establish a causal relationship between file-sharing and lost CD sales, adding that illegal CD copying and other factors may have played a role. The report concludes that the industry should do more to embrace licensed file-sharing and other new forms of digital music distribution. While online music sales currently account for just 1-2% of overall music industry revenue, OECD predicts this figure will rise to 5-10% by 2008. The report goes on to criticize the current range of incompatible audio and digital rights management formats, which it said face concerns over transparency, privacy and restrictive usage terms that deny fair uses. It also underlined the importance of government actions in addressing Internet piracy.
tags: Music | Reports | File-Sharing | Slump | Causal Link |

Clear Channel Seeks Proposals for New Radio Ratings System

Authored by Mark Hefflinger on June 13, 2005 - 9:55am.
San Antonio -- Clear Channel Communications, the nation's largest radio station operator, said on Monday that it is seeking proposals for a new radio audience ratings system, to replace the current radio diary system run by Arbitron. The company cited a number of recent studies it says show that radio "offers better performance and more value for advertisers' dollars" than the numbers culled by Arbitron's personal radio diaries. "The accuracy and credibility of the diary method has come under increasing skepticism over the past several years," the company said, adding that Arbitron will also be asked to participate in its request for proposals. "Radio is a powerful, effective medium whose influence and reach have been underreported and diluted," said Clear Channel Radio CEO John Hogan. "In discussions with other radio groups, it's become clear that a different approach is needed to find an industry-wide solution. We want to investigate those options."
tags: Radio | Clear Channel | Ratings | Proposals |

Snocap Opens Legal P2P Song Registry to Independent Labels, Artists

Authored by Mark Hefflinger on June 13, 2005 - 9:53am.
San Francisco -- Snocap, a digital music venture founded by Napster creator Shawn Fanning to serve as a digital registry and identification service for online songs, announced on Monday that it has begun allowing independent artists and record labels to register their songs in its database. All of the major record labels except for Warner have begun registering their songs with Snocap, which hopes to license its database to peer-to-peer file-sharing networks so that only authorized copyrighted files may be exchanged -- on the copyright holder's terms. Independent labels including TVT, Ryko, Artemis and Nettwerk have now also begun to register songs with Snocap.
tags: P2P | Music | Artists | Labels | Snocap |

SoundExchange to Collect $40 Million in Digital Royalties in 2005

Authored by Mark Hefflinger on June 13, 2005 - 9:52am.
Boston -- SoundExchange, the recording industry entity set up to collect satellite and webcasting royalty fees and distribute them to artists and copyright holders, expects to collect $40 million in royalties in 2005, executive director John Simson told the Boston Herald. SoundExchange is currently distributing $5.2 million in royalties from the period of 1996-2000, and while 15,000 artists have registered with SoundExchange, some 30,000 others owed royalties still haven't -- including performers such as Mark Wahlberg, the Lemonheads and Boston. "It's important that artists sign up now or they're going to lose out on royalties already collected on their behalf… The deadline is July," SoundExchange's Simson told the Herald.
tags: SoundExchange | Digital Royalties | Collect |

Sirius Satellite Radio Plans to Add Data, Video Services

Authored by Mark Hefflinger on June 13, 2005 - 9:51am.
New York -- Sirius Satellite Radio announced on Monday that it has implemented technology to increase its network capacity by 25%, which will allow it to expand its subscription radio programming service to include data and video services. New York-based Sirius said future radios will be equipped with the new "hierarchical modulation" technology so they can receive the new data and video services, expected to launch in the second half of 2006. Sirius rival XM Satellite Radio already offers some data services to its four million subscribers, such as one that provides local traffic information.
tags: Satellite Radio | Sirius | Data | Video Services |

London Live 8 Concert Ticket Lottery Sets Text-Message World Record

Authored by Mark Hefflinger on June 13, 2005 - 9:49am.
London -- The Guinness Book of Records announced on Monday that a world record for text-messaging was set when users sent over 2 million text messages in a bid to win tickets to the upcoming Live 8 concert in London, a benefit for African nations at which Pink Floyd, U2, Madonna, Elton John and Paul McCartney are scheduled to perform. Would-be concertgoers sent a total of 2,060,285 text messages, at a cost of about $2.70 each to send, raising over $5.4 million for charity. The previous record of 726,875 text-messages was set by users pledging to the Disasters Emergency Committee's online fundraiser for victims of the New Year Asian Tsunami.
tags: London | Ticket | Text-Message | World Record |

U.K.-Based Online DVD Rental Firm Video Island Raises $9 Million

Authored by Mark Hefflinger on June 13, 2005 - 9:48am.
London -- Video Island, a U.K.-based online DVD rental firm, announced that it has raised more than $9 million in new debt funding. European Venture Partners (EVP) led the round, with existing investors Benchmark Capital, Cazenove Private Equity and Index Ventures also participating. The new funding brings the company's total raised to date to more than $27 million. Video Island said it would use the funding to support its growth and market reach and expand its DVD library, already the largest in Europe with more than 32,000 titles. "Video Island has established itself as the dominant player in this market and has forged ahead of its rivals both in terms of market share and innovative approach," said EVP Partner Ross Ahlgren. "We are excited to team up with some of Europe's premier VCs to support the continuation of Video Island's impressive development."
tags: Internet | VC | DVD | Video Island | U.K |

IMAX to Open 24 Theaters in China by 2008

Authored by Mark Hefflinger on June 13, 2005 - 9:47am.
Toronto -- IMAX Corporation, the large-format film exhibitor, announced on Monday that it plans to install 24 IMAX theaters in China by 2008. The company added that it has signed an agreement with Thai Tai Enterprises Co., Ltd., to open an IMAX theater in the city of Shenyang in the fourth quarter of 2007. "We identified China as a market of key strategic significance a number of years ago said IMAX co-CEOs and co-chairmen Richard L. Gelfond and Bradley J. Wechsler. "Hundreds of malls and multiplexes are being built across the country, and leading developers like Thai Tai Enterprises are incorporating IMAX theatres into their plans -- as a way to differentiate their sites from all surrounding competitors."
tags: China | Theaters | IMAX |

Interactive Ad Technology Firm Right Media Raises $7.25 Million

Authored by Mark Hefflinger on June 13, 2005 - 9:45am.
Menlo Park, Calif. -- Right Media, a New York-based developer of interactive advertising technology, said on Monday that it has raised a minimum of $7.25 million of venture capital from Redpoint Ventures. Founded two years ago, Right Media earlier this year launched its ad serving and management platform, which supports dynamic pricing. The technology is designed to improve results for advertisers and maximize the value of website ad inventory. This is Right Media's first round of venture capital. The company said that it will use the funds for research and development and to hire marketing and client service professionals.
tags: VC | Interactive | Right Media |