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Business News Week In Five
The music business week in five – Friday 17 Sep 2010
By Chris Cooke | Published on Friday 17 September 2010
So, this time next week I’ll be penning this weekly review of music biz nonsense in the magnificent city of Hamburg, ahead of my panel at the Reeperbahn Festival, which is all rather exciting. You’ll find more info about the convention part of Hamburg’s big music event here in the CMU Daily over the next few days. Meanwhile, let’s get back to this week shall we? Here’s the five biggest developments in music this week.
01: A US judge let Terra Firma’s Citigroup lawsuit proceed to court. The equity group is suing the bank over the advice the latter gave the former ahead of its audacious acquisition of EMI in 2007. The bankers tried to have the whole lawsuit dismissed, but a US judge said on Wednesday that Terra Firma’s case (well, most of it) should be heard at a full jury trial. That court hearing is now due to kick off on 18 Oct and could make for interesting viewing. CMU report | FT report
02: It was confirmed that rights owners will be saddled with 75% of the costs of three-strikes. That content companies should cover three quarters of the costs of the anti-piracy system was originally proposed when the three-strikes enabling Digital Economy Act was going through parliament. The government’s Department Of Business, Innovation & Skills had since been reviewing the costs issue. The record companies, film studios and telly firms wanted their potential share of the bill reduced, but government types – as expected – stuck with the original proposal. Internet service providers will cover the other 25%. Those accused of file-sharing who wish to appeal will not be charged to do so, at least not at the launch of the three-strikes initiative. CMU report | Telegraph report
03: The Marley family lost a royalties squabble with Universal. Marley’s widow and nine of his children claimed the major had underpaid them royalties on five of the reggae icon’s 1970s albums and had failed to consult them on digital and mobile licensing deals. They also questioned the nature of the major’s ownership of the master recordings of the albums. But a court pretty much ruled in favour of Universal on all counts, especially the ownership point, saying the albums were the “absolute property” of the record company. CMU report | Variety report
04: It was reported Google Music will have storage at its heart. Billboard has spoken to label sources who have seen the web giant’s proposals for its much mooted new music service. It is thought Google will offer a la carte downloads like iTunes, and then a digital locker service where people can store there MP3s and access them from any net-connected device. A Spotify-style streaming service does not seem to be part of Google’s plans. The boss of eMusic, while confirming his website would have a bit of a revamp in November, also said he was looking into the possibility of offering a digital locker service for his firm’s subscribers. CMU report | Billboard report
05: Capital FM is to be rolled out around the UK. Global Radio announced this week that next year it will relaunch four of its local FM stations and the entire Galaxy Radio network with its London-based Capital FM brand. Only breakfast and drive time shows will be locally produced, with the rest of the output on the Capital Network coming from London. It is Global’s latest streamlining of their portfolio of radio brands. CMU report | FT report
And that there is your week in music, people. For a digest of artist news you need to get yourself a free subscription to the CMU Weekly – www.completemusicupdate.com/weekly. Meanwhile, see you in your inbox on Monday and, if you’re going to Reeperbahn, in Hamburg next Thursday. Hurrah.
Chris Cooke
Business Editor, CMU Daily
