The Online Music Industry: Successes and Failures of The Week

November 30, 2009

There’s no doubt the music industry is changing as listeners are demanding what they want, where they want it, when they want it. The companies who pay attention to the listeners are reaping major rewards, and the ones who are putting up a power struggle are being visibly defeated. It has been a huge couple of weeks in online music, here are the highlights.

Live Nation and Itunes
Live Nation, producers/promoters of over 22,000 concerts and sporting events annually, have joined forces with iTunes to offer live music and video recordings. Available in a new section of iTunes, they will offer exclusive recorded concerts from Live Nation’s 50+ wired concert venues.

Last.fm and Xbox
Xbox is an example of one brand that “gets it.” It has just integrated Zune, Twitter, Facebook and Last.fm into its live gaming platform with serious success. Over one million users created their own radio stations on Last.fm its first week, which is the biggest growth spurt Last.fm has had since launching 2002. Another reason why this story makes me happy? This is huge for Microsoft – who seems to have been getting bullied in the blogosphere as of late.

Warner Music Group
On Tuesday, Warner Music Group reported an $18 million quarterly loss, the company’s stock had fallen 18% or $1.25 to $5.81. The Associated press reports, “But Warner, based in New York, said strong music releases were dampened by weak economic conditions and an industry shift from CD to digital music sales.” It was major label group’s biggest single day drop in more than two years. They just settled their dispute with Youtube and finally realized that if you can’t beat ‘em… I recommend they shift this slow transition into warp speed or we will be soon biding them farewell.

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