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Apple Voted #1 Most Admired Company In The World
March 5, 2010
Have an opinion? Add your comment below. 24 years working in executive promotion capacities at both Capitol Records and at Universal Studios' MCA Records. Recognized as one of the industry's top professionals.
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What makes Apple so admired? Product, product, product. This is the company that changed the way we do everything from buy music to design products to engage with the world around us. Its track record for innovation and fierce consumer loyalty translates into tremendous respect across business' highest ranks.
-- FORTUNE magazine, on its websiteAs it says on its website, "With 250 million iPods, 43 million iPhones, and 32 million iPod touches sold to date, plus the promise of a game-changing iPad, Apple won this year's vote by the highest margin ever for a No. 1."
(Source: http://tinyurl.com/yzkkume )
I've talked about Apple a whole lot in the newsletter, and for good reason. Apple exemplifies what happens when hard work and innovation are essential core competencies of a company in an ever-changing, almost savage, technology market space. Yes, there are other hard-working innovative tech companies, but none have achieved the status and well-deserved recognition that Apple has from business leaders across all industries. Apple has created a real model of what opportunities really exist online and offline for all companies seeking successful solutions to the challenges they face. Steve Jobs has said, "Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations." Nothing could be truer.
In the very first issue of the newsletter back in 2003, I wrote the following in a commentary about the impossibilities of trying to stop the illegal downloading of music, "Any software programmer will tell you the hard core (ugly) truth is this: Aanything that can be encoded digitally can be decoded and replicated with a little work. It's time the labels recognize this fact, accept it, and now spend time brainstorming on how new revenue streams can be created within the framework of all the technology at hand. Steve Jobs is doing that with Apple's iTunes and in its early stages, Mr. Jobs has shown that with savvy marketing and a good online product, people WILL pay for music downloads."
I never imagined when I wrote that Apple's iTunes store would someday end-up selling 10 billion songs. In fact, in 2004 I wrote, "Why did it take a hi-tech company like Apple to launch a site like iTunes that could 50 million songs in a real short time? Why wasn't (or isn't) a major music or entertainment company developing a parallel plan to reap the same rewards?" I actually did believe that would happen, and in fact, I told that to the company that developed the forerunner of the iPod, the Rio Player, just a couple of years earlier. I was so wrong.
Technology has forever changed all the business models in existence and it's hard to create new models for success when existing ones are evolving by the nanosecond. When existing organizational structures and systems are no longer able to perform effectively, corporate structures must be improved to try to do more and do it better, faster, and more cost efficient. But the best way out to deal with dramatic changes in business, is to create new ways of doing things.
That's what Apple's been doing for some time now.
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THE 'A-SIDE' - TRACK 2
FACEBOOK HEADS TO $1 BILLION IN REVENUES
Facebook revenues are estimated to hit $1billion this year. In fact, "Initial estimates of a $550 million year for Facebook in 2009 may be lower than expected. In fact, the company may have brought in as much as $700 million, though it is notoriously tight-lipped about the size of its coffers. In what was clearly a banner year for the social media site, it also moved into positive free cash flow territory - and the number of users continues to rise across the board." (Source: http://tinyurl.com/ydsua65 )
If such revenues can be generated by the social network site, there is no reason not to believe significant revenues can not be generated from the creation of an online destination that does the same for the music industry. Yes, I know MySpace failed at their attempts, but MySpace failed for a whole lot of other reasons, having nothing to do with their attempts to capture audience by using music as the lure.
Facebook has shown that strategic alliances, brand extension, and online advertising that delivers results, are all components of their success. It's harder and harder to retain that success year after year as new competition emerges online, but Facebook certainly has a big lead in their online space.
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THE 'A-SIDE' - TRACK 3
TV WASTELAND, IT'S ONLY TV WASTELAND...LENO COMES BACK BIG
Despite all the online blogs and posts on every social network about how Jay Leno would never be able to deliver ratings again after NBC decided to put him back in the 11:30 pm time slot (and yes, it was NBC who made that decision, not Jay Leno who asked for it), Jay Leno's first three nights back on 'The Tonight Show' proved ratings gold for NBC again.
Leno beat Letterman by wide margins all three nights so far, and had even given a ratings boost to 'Late Night With Jimmy Fallon.' (Source: http://tinyurl.com/ye7cxvs )
While NBC has now admitted their mistakes, they handled the entire 'Tonight Show' change poorly. Their hopes that Conan O'Brien could deliver the ratings they needed to continue making NBC "the late night leader" never were realized, and as his ratings sagged against Letterman, revenues declined. Many say NBC should have given O'Brien more time. But as we all know, time in the corporate world moves faster than anywhere else. When profits shrink, the clock seems to tick faster and faster. It was inevitable then that something had to be done.
So Leno returns and the ratings are good again. But now NBC has a much bigger problem on its hands.
Jay is 60 years old and he (like Letterman, already over 60) won't be sitting at that desk a whole lot longer. And when he decides it's time to go, who has NBC got in the bullpen to replace him with?
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THE 'A-SIDE' - TRACK 4
STRATEGIC ALLIANCES WORK
"If you do not seek out allies and helpers, then you will be isolated and weak." - Sun Tzu, "The Art of War"
From the newsletter in 2003: "If ever there was a time for the music industry to seek symbiotic relationships, it's now. The formation of these partnerships is becoming a key component in all corporate thinking and has been talked about recently in leading business publications. This from BUSINESS WEEK: "...companies should expand beyond their existing resources through licensing arrangements, strategic alliances, and supplier relationships." From FORTUNE: "Alliances have become an integral part of contemporary strategic thinking."
This week it was announced that Bally Total Fitness is launching a partnership with Universal Music group.
"Bally has committed to purchase 4.5 million downloads from Universal for use as premiums. In return, Universal has created a Bally-branded website listing all of the songs available for download. In addition, Bally will feature songs from artists such as Gin Wigmore, Swingfly, Lady Sovereign and Philadelphia Grand Jury." (Source: http://tinyurl.com/ye2fnsa )
Four-and-a-half-million downloads from just this one partnership.
We'll see a whole lot more of these types of partnerships in the future. And if created well, they will all benefit all parties, and the artists on labels will have the opportunity to earn more money as their labels reach out for new ancillary revenue streams.
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THE 'A-SIDE' - TRACK 5
THE PAID CONTENT IDEA AGAIN? NAH ... I DON'T THINK SO
Though Rupert Murdoch and others are adamant about advocating the paid content model for news and related content, it seems like every week there is another research report coming out that says people just won't go for it.
This week, Pew Research released the results of a survey that showed "Online news has become more popular than reading newspapers in the US." (Source: http://tinyurl.com/yzs93jv )
The results also showed that the Web remains the third most popular news channel, behind local and national TV stations: 61% of readers surveyed said they got their news online on a typical day, compared with 78% from local news channels and 71% from a national TV network such as NBC or cable channels such as CNN or Fox News.
At the same time (and not surprisingly), regular readers of newspapers -- either local ones or national papers such as the New York Times -- have dropped to 50%, the survey said. Online, the survey also showed that news aggregators such as Google News and AOL were most commonly used, along with the websites of CNN and the BBC.
From the article: "News awareness is becoming an anytime, anywhere, any device activity for those who want to stay informed."
It remains to be seen just how many people will actually pay good dollars for news content when they get it from a myriad of sources online for free, or just turn on their TV or radio when they want to get the same information.
And Now For Some News ...
The Top 40 Money Making Artists In 2009
From Billboard.comWho was #1? How much did they gross? (If you guessed U2, you were right)
Check out the list of the Top 40 Money Makers in Billboard magazine.
Read more about it by clicking here.
21% Fewer People Buying Music In The U.S. Between 2007-2009
DigitalMediaWire.comThe number of U.S. music purchasers declined by 24 million between 2007 and 2009, a drop of 21% during a period when consumers were purchasing far fewer CDs, but beginning to experiment more with digital music, according to data presented by market research firm NPD Group.
Read more about it by clicking here.
Sony Dumps CD Promos In U.K. And Goes Digital
Music WeekSony Music is becoming the first U.K. major to abandon CD promos, in favor of an all-digital system. On May 1st, the major will switch to a digital e-card system for the distribution of promotional music. Sony already uses this digital system for many releases, but Sony U.K. chairman and CEO Ged Doherty reveals that the major will be phasing out the mailing of physical stock at the same time.
"Digital promo is set to become an industry standard as other major and independent music companies also make the switch," Doherty writes in an e-mail to contacts.
Read more about it by clicking here.
New Music Streaming Company, MOG, Raises $9.5 Million
MashableCuriously named on-demand music streaming service MOG just raised an additional $9.5 million in funding. The funding round was led by existing investor Menlo Ventures, along with Balderton Capital. To date, the startup as already secured backing from Universal Music Group and Sony Music, and has raised over $10 million in angel and Series A rounds. Since its December launch, MOG has sought a share of the subscription music business by offering users 256kbps streams for a $5-per-month fee.
The space, however, is already quite crowded with entrenched players like Napster, Rhapsody, and the domestically destined Spotify. MOG, for its part, sees growth opportunities abroad -- and in Europe, in particular -- as well in the mobile space. It's also open to various partnerships. To attract new users, MOG is also increasing its free trial period from one hour to three days.
Read more about it by clicking here.
Sirius/XM Posts First Quarterly Profit, Expects Growth
Reuters.comSirius XM Radio Inc posted its first quarterly profit since its merger and said it expects to add 500,000 new subscribers in 2010 as the recovery in the car market boosts demand for satellite radio. The results on Thursday suggest that the company, run by media industry veteran Mel Karmazin, has solidified and is set to grow. Just a year ago, it flirted with bankruptcy as it faced a hefty debt load and weak auto sales.
Read more about it by clicking here.
The Best Speakers For Your Computer
Cnet.comYou're probably spending more and more time at your computer, and if so, listening to music is probably one of your favorite things to do, right?
CNet has put together a list of what they believe are the best speakers for computers that can to deliver the best sound to you.
Read more about it by clicking here.
The RealDVD Is No More
Slyck.comBack in 2008, RealNetworks created a DVD copying program called RealDVD that claimed legality by not defeating CSS copy protection. Instead, all the copy protection and DRM goodies are transferred onto the hard drive, barring the individual from exporting the image to P2P networks, blank DVDs, iPods, etc. The MPAA didn't like the idea much and sued Real Networks.
This week, the both sides announced that they will settle their legal dispute. RealNetworks received the short end of the stick in the deal: they agreed to give up their appeal, and they have to pay the MPAA $4.5 million dollars in legal fees. In return, the MPAA gets to declare victory.
Read more about it by clicking here.
More People Are Watching TV Online, But Someday It's Gonna' Cost You (When They Figure Out How To Do So)
Cnn.comIn the near future, TV is going to be available anywhere, on any device, at any time. Just don't expect it to be free.
That's because of the big, unanswered question being asked by networks, cable companies, advertisers and technology providers: How do they make money from it?
Read more about it by clicking here.
ROCK BAND STORE OPEN TO BANDS:
Harmonix, the maker of Rock Band 2, have launched its new Rock Band Network where indie artists can submit their own music to become downloadable content for the popular music video game. So far, roughly 100 songs populate the Rock Band Network, including songs by the Shins, the Hold Steady, KMFDM and guitar virtuoso Steve Vai, but the real draw is the new technology that allows unknown bands to submit their own music for a chance to have their music playable on the Rock Band games. Artists who get their music loaded onto the RBN will receive a 30% royalty whenever their tracks sell.
ROCK 'N' ROLL AUCTION STUFF:
Memorabilia from Michael Jackson (including onstage outfits), U2 (Bono's rosary), the Beatles and Bob Dylan are hitting the block for the Gotta Have Rock & Roll auction.
CMA NOMS:
Taylor Swift picked up five Country Music Award nominations, including a nod for the coveted Entertainer of the Year. Recent chart superstars Lady Antebellum earned the most nominations, however, with seven, and Carrie Underwood and Miranda Lambert both tied with six. The CMAs will be held April 18th in Las Vegas.
MORE TV MUSIC:
CBS is continuing to mine classic rock for its prime-time dramas. The March 21st episode of Cold Case will feature only Pink Floyd songs, including "Hey You," "Comfortably Numb," "Mother," "Marooned," "Time," "The Thin Ice" and "Wish You Were Here."
DANCING PUSSYCAT:
Lead Pussycat Doll Nicole Scherzinger announced she's joining the cast of ABC's "Dancing With the Stars" yesterday, and now two Dolls have left the group. Ashley Roberts and Kimberley Wyatt are quitting to pursue acting and happiness, respectively.
ROUNDER 40TH CELEBRATION:
PBS stations this month (beginning Saturday) will air "Rounder Records' 40th Anniversary Concert," a celebration of the storied and thriving Massachusetts-based independent music label. Artists performing range from bluegrass superstars Alison Krauss and Union Station to New Orleans soul queen Irma Thomas, singer-songwriter Mary Chapin Carpenter, rocking actress Minnie Driver, multigenre banjo virtuoso Béla Fleck and Nathan & the Zydeco Cha Chas. They're all on the Rounder label -- in some cases, for decades. A companion CD with additional performances included is being released Wednesday, and an extended DVD on May 4th.
MORE VINYL COMING:
EMI is releasing special John Lennon and Sex Pistols vinyl for record store day. The Lennon "Singles Bag" will include three 45 RPM singles with replicated original artwork for "Mother," "Imagine" and "Watching the Wheels;" a limited-edition "The Great Rock 'N' Roll Swindle" will arrive as a 180-gram double LP.
PASSING:
Hall & Oates' longtime bassist Tom "T-Bone" Wolk died Saturday of an apparent heart attack. Wolk played on Kurtis Blow's "These Are the Breaks" and with the Saturday Night Live house band from 1986 to 1992. "T-Bone was my musical brother and losing him is like losing my right hand," Daryl Hall said in a statement.
Quotes of the week
"I had a boyfriend who told me I'd never succeed, never be nominated for a Grammy, never have a hit song, and that he hoped I'd fail. I said to him, 'Someday, when we're not together, you won't be able to order a cup of coffee at the f***ing deli without hearing or seeing me.'"
-- Lady GaGa tells Cosmo"I actually created that dance. That was me - again."
-- Jay-Z, jokingly taking credit for wife Beyoncé's infamous "Single Ladies" dance, on BBC's Friday Night with Jonathan Ross."Do you think that you are all there?"
-- Barbara Walters, questioning the sanity of "Octomom" Nadya Suleman on The View."You have to be good looking."
-- Simon Cowell, on the No. 1 requirement for his "American Idol" judge replacement, to reporters"What a riot! Nothing to do with David Geffen! What a funny mistake! Someone got a clue mistaken for another mistake!"
-- Carly Simon, commenting on all those who mistakenly assumed her song "You're So Vain" was about David Geffen
THE RADIO INTERVIEW on 'THE AMERICAN PERSPECTIVE' - From newsblaze.com
"Steve Meyer is on the front line of global music sales and distribution which he expects will soar to pocket-bursting levels. What's more, he shares his insight and ingenuity with us. Steve gives us both historical perspective and futuristic vision as he chats with Judy about the love of his work, trends of the business and his personal points of view about success, happiness and blending life with the lust for life. Steve joins Judy and helps us discover the thrill of having it all with a sense of balance and purpose. "
You can listen to an interview I did with Judy Piazza of 'The American Perspective' by clicking here: (It runs about 15 minutes)
http://www.thesop.org/index.php?id=10306.
The Blogs
Check out Jerry Del Colliano's (the founder of INSIDE RADIO) daily blog, by clicking here: http://www.insidemusicmedia.blogspot.comWebsite
Check out attorney Ray Beckerman's website at: http://recordingindustryvspeople.blogspot.com where he prints news about the RIAA's ongoing activities
TinyURL
Check out www.tinyurl.com where you can make a smaller URL that will work for any webpage you wish to link to or reference. (As you can see, I'm using it in my news stories above!)
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