Wednesday Business Links
Album sales dropped 5% last week and were 19% lower than the same week last year. For the year, album sales are 14% lower than last year. High School Musical 2 topped the chart for the third straight week even though it dropped 43% to 210,000 units. Casting Crowns' Altar & The Door was the top debut with 129,000 scans. Sales of digital tracks dropped 7% last week and were 31% higher than the same week last year. Digital tracks are up 47% this year.
New owner Universal Music Group has decided to close Sanctuary's UK recorded music division. Said Universal, "In consultation with senior management of the Sanctuary Group, it has been decided that its Sanctuary Records UK division will no longer continue as a stand alone, front-line record label." (BBC News)
Groove Mobile received $6 million in funding from ORIX Venture Finance to aid its expansion. (Press release)
Target has landed another exclusive: “Live From SNL! Music Performances From Saturday Night Live," a collection of musical performances from the last four seasons of the show. The CD will retail for $13.98 and have recordings of Maroon 5, Kelly Clarkson, Foo Fighters and others. (Billboard.biz)
Congress will hold hearings on media stereotypes and the degradation of women. Rep. Bobby Rush, the chairman of the House Subcommittee on Commerce, Trade and Consumer Protection, will hold the hearing on September 25. On the witness list so far are Universal Music Group's Doug Morris, Warner Music Group's Edgar Bronfman, Philippe Dauman of Viacom and rapper Master P. The event is currently titled "From Imus to Industry: The Business of Stereotypes and Degradation." (Variety)
He's back. Garth Brooks' "More Than A Memory" became the first song to ever debut at the top of the country singles chart. (Music Row)
Reuters wonders about the 2007 album total. How much of this year's 14% deficit can the back-loaded release schedule make up? Eyes are on Tuesday releases by 50 Cent and Kanye West. (Reuters)
[music jobs] Brand and Online Marketing Manager at The Ascot Club/Am Only; Brooklyn, NY.
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