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Franz Ferdinand & Opinions on St. Vincent and Green Day

Music News

We're still waiting for the Justice Department to weigh in on the merger between Live Nation and Ticketmaster. But meanwhile, mega corporation Live Nation is still making news. They announced a significant loss of $103.2 million this year, but CEO Michael Rapino is confident that the company is on track and that concert attendance will be strong this summer. And, as Jim and Greg discuss, Live Nation has a plan to make even more revenue: beer. Despite this recession, the company hopes people will buy more beer and hotdogs at increased prices.

While the traditional label system struggles to survive, it looks to the digital realm for salvation. But, as Warner Music reported this week, not all digital music investments pay off. It had to write off a $33 million loss, mostly due to its web services Lala, Imeem and MySpace. And consumers continue to skirt the system — for every legal download purchased, 40 are shared illegally. iTunes remains the only truly successful digital music service.