Wal-Mart, with 15.8% market share, and Best Buy, with 13.8%, were the largest and second-largest music retailers this quarter. What's fascinating about these results is that none of these outlets represents what would have…
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According to market research company NPD Group, in the first quarter of 2007, Apple's iTunes Store has overtaken Amazon.com and Target to become the US's third largest music retailer with 9.8% of all music sales. Apple counts 12 track sales as equivalent to one CD sale, meaning that the company is responsible for nearly 21 million of the quarter's 212 million CD sales.
We received a e-mail recently from long-time reader Sharon Churchill, which linked to an article in the New Scientist Invention blog concerning a recent Sony patent application for a system that will automatically recalibrate its response to put the sweet spot where the listener is, wherever that might be.
"Pretty cool stuff," but, as Churchill pointed out, there was no mention of it on Stereophile's website, which made the news seem a trifle untrustworthy. Have no fear, we're on the job.
The patent specifies that the "multichannel stereophony sound system" has a "relative…
Now that more and more music lovers are turning to the Internet to purchase CDs, DVDs, and downloadable files#151;see WP's story on iTunes this week—Naxos isn't taking any chances. The world's largest classical music label, whose US branch, Naxos of America, also claims to be the #1 independent distributor of classical music in the US, has recently set up multiple websites to lure music lovers into the fold.
In the cyberland of the red, white, and blue, Naxos of America has established its own online boutique, NaxosDirect. There, consumers can purchase all of the label's US-distributed…
On Thursday, June 28, the US Supreme Court voted 5-4 that manufacturers could impose minimum prices if "they promote competition." The case—Leegin v. PSKS—involved Leegin Creative Leather Products, Inc., a California-based manufacturer of women's fashion accessories, which argued that it had the right to set minimum consumer prices on its products to maintain price consistency among the niche retailers it sold to. Those stores, Leegin argued, emphasized customer service, which allowed them to compete with discount retailers that are selling more widely distributed, inexpensive products.
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Some days the music business reminds us of that old Tom Lehrer quote: "Political satire became obsolete the day they awarded the Nobel Peace Prize to Henry Kissinger." It also seems that you can't out-stupid the record industry.
Consider the case of Prince and The Mail on Sunday: On June 28, TMOS announced that it would offer Prince's 10-track Planet Earth CD (due to be released in the UK on July 24) as a free "covermount" on an "imminent" edition. In addition, Prince announced plans to give the CDs to everyone who bought tickets for his 21-night stand in London.
The Mail on…
The New York Times reported on July 2 that Universal Music Group notified Apple that it will not renew its annual contract to sell music through the iTunes Store, choosing instead to sell music to Apple "at will," meaning it could withdraw its wares with little notice. Executives of both companies declined to comment.
In one corner: UMG/Vivendi, the world's largest music company, said by Billboard to sell one out of every three new CDs sold. In the other corner: Apple's iTunes store, now reckoned to be the third largest music retailer in the US, responsible for a 15% market share.
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Treasured as much for her bubbling personality and administrative acumen as for her extraordinary voice, coloratura soprano Beverly Sills died of lung cancer on July 2. One of the finest high-flying sopranos of the latter 20th century, she leaves behind a rich legacy of recordings and an opera scene revitalized by her tireless efforts on behalf of American singers.
To lovers of the human voice, there was no one like Sills in her prime. That prime was relatively brief, extending from her assumption of the title role in New York City Opera's production of Douglas Moore's The Ballad…
As we reported last March, Ken Kreisel declared bankruptcy, closing M&K Sound after 34 years of operation. Last week, the Great American Group, which, according to its website, "provides asset management, disposition, and financial services," announced that it would offer M&K's $3 million in assets at auction on July 19.
The auction will be webcast in addition to being live at M&K's 9207 Eaton Avenue address in Chatsworth, CA. On July 18, the premises will be open for inspection. Great American says it will be auctioning over $350,000 in finished merchandise and approximately…
Tweeter Home Entertainment Group, Inc., whch declared Chapter 11 bankruptcy on June 11, accepted a $38 million bid for a "going concern" acquisition from Schultze Asset Management, a firm specializing in "distressed positions."
Tweeter had also received a $10 million bid for its 18.75% share of Tivoli from Whippoorwill Associates, Inc. and Bay Harbour Management on June 26. The Schultze bid includes that stake, as well as all of Tweeter's business operations and assets. In its "going concern" bid, Schultze has agreed to keep all 103 outlets open and is retaining the Tweeter management…
Things looked grim for Internet radio late last week. On July 11, the DC Circuit Court of Appeals declined to delay the increase in digital performance royalties the Copyright Royalty Board imposed last March. The new fees were scheduled to go into effect on July 15, retroactive to the beginning of 2006.
On July 12, SoundExchange, the RIAA's non-profit royalty collecting agency, published a press release celebrating its legal victory. "We are pleased by this decision, which vividly demonstrates that the Copyright Royalty Judges got it right when they set royalty rates and terms for the…