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August 23, 2012

Is the Recording Industry Association of America losing influence?

  • $51.35 million in revenue was reported to the IRS by the RIAA for the 2009 fiscal year
  • $29.1 million was reported for the 2011 fiscal year, a 43.34% drop in revenue source

» So, where did all the money go? Well, the company certainly hasn’t done much trimming when it comes to wages. After reporting $16 million in employee compensation during 2009, equal to 31.16% of their revenue, the company only shaved $3 million in wages by 2011. The company reported $13 million in employee compensation last year, equal to 44.67% of their revenue, including over $3 million in wages for the company’s two highest-ranking executives. Add in a $21.9 million drop in annual membership dues over the same two-year period — amid a fairly rosy 2011 for the music industry as a whole, which suggests members are departing or paying smaller amounts in membership dues — and the picture really starts to come together. So, how much longer do you think the RIAA is going to last?

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17:50 // 1 year ago
August 20, 2012

Apple tops Microsoft to become most valuable company in history

  • old recordMicrosoft became the world’s most valuable company ever near the turn of the century, when the company’s a total market worth reached $620.58 billion in 1999.
  • new record After shares reached a value of $664.74 a piece, Apple became the most valuable company in history with a total market worth of $623.14 billion. source
14:29 // 1 year ago
August 15, 2012
Reports of skull injuries lead to massive Bumbo Baby Seat recall
Parental Warning: Almost five years after more than 1 million of the seats were recalled in 2007 — to have additional warning labels affixed after at least 50 reports of infants falling from the seats on elevated surfaces — the Consumer Product Safety Commission and manufacturer Bumbo International of South Africa have asked the owners of approximately 4 million Bumbo Baby Seats to stop using them. An additional 34 reports of skull injuries to children that fall from the seat while still on the ground prompted the recall. Parents have been asked to call 866-898-4999 or visit the company’s recall site to request a repair kit, which allows them to affix a restraining belt (seen above) to the chair. The company also plans to add the belt to every seat it manufactures from here on out. (Image via CBS) source
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Parental Warning: Almost five years after more than 1 million of the seats were recalled in 2007 — to have additional warning labels affixed after at least 50 reports of infants falling from the seats on elevated surfaces — the Consumer Product Safety Commission and manufacturer Bumbo International of South Africa have asked the owners of approximately 4 million Bumbo Baby Seats to stop using them. An additional 34 reports of skull injuries to children that fall from the seat while still on the ground prompted the recall. Parents have been asked to call 866-898-4999 or visit the company’s recall site to request a repair kit, which allows them to affix a restraining belt (seen above) to the chair. The company also plans to add the belt to every seat it manufactures from here on out. (Image via CBS) source

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16:08 // 1 year ago
August 14, 2012
It’s undeniable we hurt our ratings by doing that. We have to balance what we’re trying to do for viewers across the country and our business model.
NBC Sports Chairman Mark Lazarus • Discussing whether or not NBC should have tape-delayed some events which ran live; specifically noting the men’s basketball finals between the U.S. and Spain, and men’s tennis finals between Andy Murray and Roger Federer.  The London Olympics became the most-watched television event in U.S. history, surpassing the 2008 games in Beijing, and drew a total audience of 219.4 million viewers.  The network may even turn a profit on the coverage, after initially forecasting a $200 million loss, and is now wondering if additional tape delays during future Olympics might be in their best interest.  source (viafollow)
17:21 // 1 year ago
August 7, 2012
15:13 // 1 year ago
August 6, 2012
Time Warner announces acquisition of sports site Bleacher Report
Many expect Time Warner to fold Bleacher Report into the Turner Broadcasting System (TBS) broadcast division as they continue to restructure their sports coverage. Time Warner recently turned control of the Sports Illustrated website over to Time Inc. — a subsidiary of TBS — and it seems likely that the team behind The Bleacher Report will play a large role in the SI site as well going forward. Nobody has confirmed a final price, though the Wall Street Journal believes that Time Warner coughed up roughly $175 million for the purchase. source
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Many expect Time Warner to fold Bleacher Report into the Turner Broadcasting System (TBS) broadcast division as they continue to restructure their sports coverage. Time Warner recently turned control of the Sports Illustrated website over to Time Inc. — a subsidiary of TBS — and it seems likely that the team behind The Bleacher Report will play a large role in the SI site as well going forward. Nobody has confirmed a final price, though the Wall Street Journal believes that Time Warner coughed up roughly $175 million for the purchasesource

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15:13 // 1 year ago
August 2, 2012

Time Warner Cable announces major drop in cable subscribers

  • 169,000 subscribers lost last quarter source

» Eating a bit of crow: Only 24 hours after Time Warner CEO Jeff Bewkes told investors that people weren’t interested in cord-cutting — when it comes to cable TV — the namesake cable company, which no longer has ties to Time Warner, announced heavy cable subscription losses alongside an increase of 72,000 new business and residential high-speed internet subscribers. The company is far from having its business model disrupted though, as it did also take in a total of $5.4 billion during the same three months. (update to note they are separate companies; thanks stphn)

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15:28 // 1 year ago
8:59 // 1 year ago
August 1, 2012
The whole idea that there’s a lot of people out there that want to drop multichannel TV, and just have a Netflix or an HBO — that’s not right. Look for the data, you won’t find them.
Time Warner CEO Jeff Bewkes • Once again shooting down any chance of a web-only HBO GO service, following an inquiry by a Barclay’s Capital analyst during Time Warner’s earnings call. Bewkes told investors that the 7 million additional subscribers to HBO and Cinemax in the last 6 months was proof that there was still an extremely large market for cable-exclusivity. “There are tens of millions of homes with multichannel TV… [that] aren’t currently subscribing to HBO,” said Bewkes, “That’s the opportunity.” source (viafollow)
18:48 // 1 year ago
15:31 // 1 year ago