eMusic: looking for ‘pixie dust’
p2pnet news view | Music:- “They started out looking for financing, but after Apple bought LaLa they began thinking that some of that pixie dust would sprinkle onto them,” said one source.
The ’source’ is quoted by the New York Post.
Under discussion is eMusic — “opportunistic stewards of capital,” the story has CEO Daniel Stein stating.
eMusic, “which sources say is several times bigger than LaLa, carved out a niche by focusing on independent artists like Vampire Weekend,” it says going on:
“Recently, it has begun broadening its reach with a deal to license the back catalog of Sony Music. Sources said the service is close to inking deals for the back catalogs of two of the remaining three major labels.”
That “helped return eMusic to marginal subscriber growth after a few years of stagnation,” says the NYP. “Sources familiar with its books said it generates between $65 million and $70 million in revenue annually from roughly 400,000 subscribers.”
“They’re not growing, but they’re not falling apart either,” a second source states. “They’re not going to give the company away. If they fail to get an attractive offer, they’ll figure out a way to revive the business.”
eMusic’s customers “currently pay flat monthly fees to download up to a certain number of songs,” adds the post.
New York Post – EMusic mulls sale as digital market shifts, December 24, 2009
Use free p2pnet newsfeeds for your site. It`s really easy!
Subscribe to p2pnet.net | | rss feed: http://p2pnet.net/p2p.rss | | Mobile – http://p2pnet.net/index-wml.php
Net access blocked by government restrictions? Use Psiphon from the Citizen Lab at the University of Toronto. Go here for details.
December 26th, 2009 at 11:22 am
People still pay for music?
December 26th, 2009 at 9:32 pm
I still do; hell, I’m a member of eMusic. Although I must admit, their kowtowing to major labels has had me seriously considering getting rid of my account.
December 27th, 2009 at 9:16 am
They cut the number of tracks you could download in a month in half when they made
the Sony deal. In addition, some tracks are now only available with the purchase of an
entire album. Albums are counted by number of tracks, with a maximum of 12 credits.
I’ve occasionally found music there that I couldn’t find on Usenet or torrents, and which
although also on Amazon MP3, made more sense to download there.
December 29th, 2009 at 5:16 pm
“People still pay for music?”
It is statements like that that scare the hell out of artists and keep artists in the hands of the RIAA, instead of giving artists the encouragement to go indie. The RIAA is the only one that is telling artists that they can get paid for music.