Wednesday Morning Business Notes
The American Music Awards were announced yesterday. (Commence yawning.) Four acts -- Nickelback, Black Eyed Peas, The Red Hot Chili Peppers and Mariah Carey -- received three nominations apiece. Long tail enthusiasts, take note: Because the minimum sales threshold was not met by at least five candidates, no award will be given out for Favorite Female Rap/Hip-Hop Artist. (Article at liveDaily)
At the Goldman Sachs Communacopia Conference, Warner Music Group chairman and CEO Edgar Bronfman, Jr. said his company's digital growth had exceeded expectations. "Physical has been a little bit weaker than expected, but digital has grown faster," he said. (Editor: WMG's digital growth was flat last quarter.) As for WGM's recent revenue-sharing deal with YouTube, he said he expects it to grow into "big business" over time. (Article at Hollywood Reporter)
Digital distributor IODA announced this morning that it intends to acquire European digital distributor Uploader. (Read the Press Release)
Koch Records has joined two majors -- Universal Music Group and EMI -- in licensing its catalog to SpiralFrog, a free, ad-supported P2P network. (Read the Press Release)
After the death of D12 member Proof, Eminem planned to put out unreleased D12 tracks on a mixtape. Now that mixtape has turned into an official Shady Records compliation titled Eminem Presents: The Re-Up that will be released December 5th. Artists on the comp are 50 Cent, Lloyd Banks, D12, Obie Trice and Akon. (Article at SOHH)
A profile on Long Island music retailer Looney Tunes. How has the indie store survived when so many others have gone out of business? This will blow your mind: "We have changed with the times," said owner Karl Groeger, Jr. There you have it. Businesses can change. (Article at Newsday)
Music Groups