Time Warner now has been involved in two huge deals that show the pitfalls of trying to fuse media and new distribution businesses. Its $106 billion merger in 2001 with AOL Inc. was one of the biggest flops in business history. Time Warner eventually spun off AOL. AT&T’s pursuit of Hollywood business set it apart from rival Verizon Communications, which focused mostly on its core wireless business. Still, Verizon spent nearly $10 billion exploring digital media, acquiring AOL in 2015 and Yahoo in 2017. It later wrote down about half of those properties’ values after they failed to deliver the growth the company promised.
May, 2021
Discovery CEO David Zaslav on WarnerMedia Deal: Relationships With Talent Will Be “Number One Priority”
Under the terms of the deal, AT&T will spin off entertainment arm WarnerMedia and combine it with Discovery, creating a TV, film and streaming powerhouse. AT&T’s WarnerMedia owns the likes of the Warner Bros. studio, HBO and streaming service HBO Max, as well as the Turner cable networks. Discovery’s reality TV-heavy properties include Discovery Channel, HGTV, TLC, Food Network, OWN and Animal Planet.
Play It Again, Fan: Songwriters Seek ‘Repeat’ Customers In Streaming Age
For most songs, even substantial repeat business doesn’t result in a direct financial increase in revenue because the platform pays out in micropennies. But streaming performance has a heavy influence on which songs get worked to AM/FM stations as singles, and a hit in that platform can potentially lead to six-figure payouts.
Source: Play It Again, Fan: Songwriters Seek ‘Repeat’ Customers In Streaming Age
YouTube spending $7 million on 2 new journalism programs
YouTube is spending $7 million to fund two new programs to help journalists looking to build an audience on YouTube. It’s the first time YouTube is funding journalism independently of Google’s $300 million Google News Initiative. Both new initiatives are year-long programs, designed to help digital-first journalists learn how to build audiences and brands on YouTube.
Source: YouTube spending $7 million on 2 new journalism programs
Live Nation Wants To Turn Concert ‘Magic Moments’ Into NFTs
During the company’s quarterly earnings call last week, Live Nation CEO Michael Rapino spent much of the time allocated to questions discussing his outlook on blockchain tech and the promise of non-fungible tokens (NFTs). “We’ve all learned from Top Shots at the NBA,” said Rapino. “We envision Live Nation…looking at some of its concert moments as magic moments that we could mint and attach to our ongoing ticket festivals and special moments.”
Source: Live Nation Wants To Turn Concert ‘Magic Moments’ Into NFTs – Decrypt
Is Blockchain The Unsung Hero in the Music Industry?
Fairly remunerating artists would require the elimination of a majority of the intermediaries that are currently involved in the distribution of music. Blockchain can form the transactional channel between music creators and fans who wish to support them, eliminating — or at least minimizing — the need for intermediaries.
Source: Is Blockchain The Unsung Hero in the Music Industry?
Teens Tune Out of Pro Sports
Fewer young adults bother sitting through hours of live game coverage, threatening the value of a rights package estimated at nearly $50 billion by 2024. Young adults used to participatory media—playing video games, making videos, posting comments and connecting with others—find a typical spectator experience to be too passive.
Art Has a Money Laundering Problem. NFTs Could Make It Worse
In 2018, the IMF estimated that the legitimate art market was worth around $68 billion. At the time, the UN claimed the illicit art market was worth roughly $6 billion. And according to Jordan Arnold, chief innovation officer and global chair of private client services at risk and compliance firm K2 Integrity, the problem is likely to get worse as new art mediums such as NFTs emerge.
Source: Art Has a Money Laundering Problem. NFTs Could Make It Worse – Decrypt
Opinion | Streaming services aren’t equitably sharing profits with music artists. Bill C-10 could help change this
Artists who were once paid 25 cents per song on vinyl or CD are now paid less than 10 cents per thousand plays on such streaming sites as YouTube Music and Spotify — sites many consumers currently enjoy. As a result, many artists are struggling to rise above the poverty line, much less sustain a career or a family.
TuneCore owner Believe aims to raise €500m as it begins IPO process in France
As part of the contemplated IPO, Believe – a label and artist services company and the owner of TuneCore – intends to raise approximately €500 million ($608 million) to finance its growth strategy. In a media release issued today, Believe confirmed it is a “fast-growing and profitable company” that generated €728 million in digital revenues in 2020, and €441 million of consolidated revenues in the same year.
Source: TuneCore owner Believe aims to raise €500m as it begins IPO process in France