Results for Michael Rapino

news

Music News

At the beginning of the show Jim and Greg give an update on a news story they've been following–one of the biggest in contemporary music history. Last week they reported the planned merger between Live Nation and Ticketmaster. This week the heads of those companies spoke at a hearings before our nation's legislators. At the U.S. Senate Judiciary Committee hearing, CEOs Irving Azoff and Michael Rapino were greeted with skepticism, even sarcasm, as they tried to defend their plan and its effects on consumers. Jim and Greg have a very different feeling after this hearing than they did during the Ticketmaster investigation in the mid-'90s. This time, they think the law might come down on the side of the consumer.

In other sad industry news, New York City landmark Manny's Musical Instruments will close down in May. The store, which was purchased by Sam Ash in 1999, has served such customers as Benny Goodman and Kurt Cobain over the years. Even our own Jim DeRogatis used to visit the store and“music row”in his youth.

Go to episode 170

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.

https://www.flickr.com/photos/soundopinions/sets/72157617528038628/

Go to episode 181