22nd Aug 2012
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Ah, the under-reported Universal / EMI deal- It simply wouldn’t be an edition of The Gen without an update and this time the news is from the great white North as Canada gives the green light to the £1.2bn acquisition, following similar recent clearances in New Zealand and Japan.Universal said in a statement: "We are pleased that the Canadian Competition Bureau has cleared Universal Music's proposed acquisition of EMI with no objections”.
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Technology and music company Apple has become the most valuable company in the history of the world with share prices pushing its capitalisation over $600 billion this week.The world’s second most valuable company (Exxon Mobil Corp) weighs in at a mere $408.bn, with the increase in Apple share prices attributed to anticipation about new versions of the iPhone, iPad and a mooted re-launch of Apple TV, working with cable companies.
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Generator are supporting House the House, a competition launched by charitable foundation Last Night A DJ Saved My Life, that will see the winner play a set at the House of Commons. Prepare to dust off ‘The beat goes on’ for George Osborne (Or simply show up with a broken record and play it on an endless loop).
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Virgin Media, part of the empire built by super rich levitating faun like deity Richard Branson has become the latest ISP to join the club in blocking peer-to-peer network ‘Newzbin2’.
17th Aug 2012
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In an explosive twist in the story that has dominated international music news over the past couple of months, three members of Russian Punk band Pussy Riot have been found guilty of "hooliganism motivated by religious hatred".
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The latest ABC magazine circulation figures have landed, with NME taking another plunge, Q not on the ball and a surprising upturn for some Indie publications.In a drop that seems dramatic even in a tough climate for music magazines, Bauer’s monthly title Q shed over 15,000 readers, dropping 16.7% to 64,596. Elsewhere in the Bauer stable, rock weekly Kerrang! fell by 4.5% over six months and Mojo saw a decline of 2.7%.
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With new figures suggesting that streaming services will grow by 40% this year, generating an estimated £696m for the global industry The Gen asks- are the tides finally turning for streaming and will artists see reasonable royalties?Research published by Strategy Analytics point towards streaming as the fastest growing facet of consuming music- hardly a surprise to anyone who has been awake at some point in the last five years but is industry opinion also changing?
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Indie label group Cooking Vinyl has launched ‘DoubleCross’, a new imprint focusing on rock and metal, with UK act The Virginmarys (pictured) as their first global signing.The label will stand-alone from the main Cooking Vinyl name, whose current roster includes Marilyn Manson and Billy Bragg.
9th Aug 2012
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HMV Group has posted pre-tax losses of almost £40m just days after current Chief Executive Simon Fox announced his departure from the struggling former high street retail giant. HMV’s sales were down by 12.1% to £38.6m, with the value of physical music sales dropping by 19% year on year.
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Readers of The Gen aiming for the Forbes rich list should probably stop strumming guitars and pick up some new cartridges for their vinyl decks, with recently published figures revealing that Tiesto earned around £14m last year.
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