Wednesday, March 4, 2009
Will YouTube Music Become a Reality? Here’s Hoping.
YouTube, the world’s biggest video site, and Universal Music Group, the world’s biggest music label, are talking about creating a YouTube Music site. About time.
YouTube, the world’s biggest video site, and Universal Music Group, the world’s biggest music label, are talking about creating a YouTube Music site. About time.
Remember when MTV used to mean music television? Those days are long gone, but music videos thrive on YouTube. And it shouldn’t be hard to turn that into a real business worth serious money–if the labels and Google can get their act together.
Even in the worst of times, people are supposed to hold their TVs close to their hearts: Turn off the heat? Sure. But don’t you dare take my cable away. So this can’t be good: Cable giant Comcast turned in a fourth-quarter report card this morning that beat Wall Street’s revenue and earnings expectations. But it lost more basic subscribers than analysts had expected and added fewer higher-end digital subs than anticipated.
Last spring, RealNetworks announced plans to spin off its fast-growing casual games business into a separate company. That’s not going to happen in the midst of a meltdown, and today the company formally acknowledged the reality. But keep an eye on Real, which has a pile of cash and may be in an acquiring mood at some point this year.
Are you an aspiring media entrepreneur trying to figure out how to raise money during brutal times? Here’s one method: Start an email newsletter business, then give Bob Pittman a call. The investor behind DailyCandy and Thrillist is trying it again, via a $1 million stake in VitalJuice, a “wellness” newsletter.
You don’t need a particularly good crystal ball to foresee that big media are in for a bad year (at least). But Wall Street singled out Sumner Redstone’s Viacom and Rupert Murdoch’s News Corp. for special treatment this morning, by whacking estimates for the next few quarters. The short story: The lousy ad market will be even worse than people think.
Forget the blowup between Warner Music Group and Google over YouTube money: The big labels need to be on the world’s biggest video site, and YouTube could use the music videos. Which is why the solution may look very much like the arrangement the labels made with MySpace last year. Call it YouTube Music.
Viral videos–you-gotta-see-this clips Web surfers pass along to each other without any prompting–are every marketer’s dream. Here’s HBO’s clever attempt to create one: Use an existing video that’s already popular on YouTube and try to piggyback off that to promote its excellent “Flight Of The Conchords” show.
Viacom’s long-rumored cuts are here. The cable network is firing 850 people–seven percent of its workforce–and will take a charge of up to $450 million. It says the cuts will save it up to $250 million next year. The cuts will go into effect this month and will be spread throughout the company. Click through for the official release, as well as internal memos from CEO Philippe Dauman and MTV Networks CEO Judy McGrath.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider. Read more »
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