PledgeMusic is pulling a sneaky disappearing act. Aiming to completely disappear into the middle of the night, the crowdfunding platform’s executives shut down the website last week. This came months after PledgeMusic reportedly froze artists’ funds an…
Author archives: Daniel Sanchez
Throwing in the Towel — Woodstock 50 Is Officially Canceled
I hate to say “I told you so” about Woodstock 50. But, I did tell you so. Following months of speculation, red flags, constant permit denials, and three venue changes, Woodstock 50’s embattled co-founder Michael Lang and the event’s principal, Greg Pe…
FUGA Acquires Songspace
Late last year, digital distribution company FUGA unveiled a new deal with an eSports giant. Expanding its business, Riot Games signed a deal with the distributor to handle its music catalog for League of Legends. Under the agreement, FUGA would distri…
Sony Music’s Q1 2019 — $1.02 Billion in Recorded Music Revenue and $348.5 Million in Operating Income
Sony Music Entertainment has published the earnings for its Q1 2019 fiscal year. Earlier this year, in its Q4 2018 (our calendar Q1 2019) report ending March 31st, 2019, Sony Music brought in ¥104.4 billion ($946.3 million) in recorded music revenue, d…
Tool’s Catalog Will Finally Drop on Music Streaming, Along with New Album in August
Los Angeles rock band Tool has finally relented on their sharp criticism of music streaming services. In a surprise post on Instagram, the band calmly told their 155,000+ followers, “This Friday, Aug 2nd, the Tool catalog goes up on all digital and str…
SiriusXM’s Q2 2019 — 34.3 Million Subscribers and Pandora Radio’s Gross Profit Climbs 40%
SiriusXM has published its earnings report for the second fiscal quarter of 2019. In the first quarter of 2019 (Q1 2019), the satellite radio giant reached a new milestone, locking down 34.2 million subscribers. The company’s pro forma revenue jumped …
Rogers & Cowan and PNK-BMC Announce Merger
Two powerhouse marketing and PR agencies have unveiled a substantial merger. Alongside PMK*BNC, Rogers & Cowan has confirmed both companies will now operate as a single entity. The combined company – still unnamed – will manage over 500 clients acr…
Big Hit Entertainment Acquires GFriend’s Talent Agency, Source Music
BTS powerhouse Big Hit Entertainment has been on a roll. Last October, K-Pop boy band phenomenon BTS re-negotiated a long-term deal with the Korean entertainment agency. The newly-extended seven-year contract sees Big Hit representing BTS for a thirte…
With the Event Now Free, Woodstock 50 Aims to ‘Guilt’ Headliners Into Performing
Is Woodstock 50 going to the crazy place? First, after indefinitely delaying ticket sales, the festival’s financial backer officially declared the event canceled. Then, after losing its producer and changing venues twice following multiple permit deni…
63% of France’s Recorded Music Revenues Come from Streaming
French music industry trade group SNEP has published its mid-year 2019 report. Earlier this year, the National Syndicate of Phonographic Publishing (SNEP) revealed that digital revenue accounted for 57% of the market in France. In 2018, digital sales r…