There’s an Arrest Warrant out for Justin Bieber…

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Justin Bieber’s public image has definitely gone down in recent years. Now Bieber has to be wary of an entire country.

An Argentine judge has ordered that Bieber be arrested if he sets foot in Argentina.<!–/*
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// ]]>Why? Because back in 2013 Bieber sent his bodyguards after a photographer, Diego Pensoa, who was taking pictures of him. Pensoa says the bodyguards attacked him.

Bieber was called for questioning but never showed up.

Personally, I’m pretty surprised that so many paparazzi file lawsuits after getting roughed up. Do they think entitled celebrities are going to tolerate being followed?

 

Nina Ulloa covers breaking news, tech, and more: @nine_u

The post There’s an Arrest Warrant out for Justin Bieber… appeared first on Digital Music News.


Source: Industry News

Executive Shuffles: Def Jam, CBS Radio, Hippos in Tanks

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© Meredith Truax

Faisel Durrani

Def Jam has hired Faisel Durrani as EVP/GM. Durrani previously managed Beyoncé and was an executive at Live Nation. He was previously EVP of International Marketing at Island Def Jam Music Group.

Andre J. Fernandez has joined CBS Radio as President. Fernandez will oversee 117 stations in 26 major markets. He was previously COO and CFO of  Journal Communications. Fernandez is replacing Dan Mason, who is retiring.<!–/*
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Barron Machat, founder of label Hippos in Tanks, passed away last week in a car accident. Hippos in Tanks put out releases from Laurel Halo, Hype Williams, Dean Blunt, and many others. Machat had recently been working in management for Yung Lean and Sad Boys.

 

Nina Ulloa covers breaking news, tech, and more: @nine_u

 

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Source: Industry News

Mumford & Sons Want Nothing to Do With TIDAL

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Lily Allen doesn’t like TIDAL. Marina and the Diamonds doesn’t like TIDAL. Apparently Mumford and Sons don’t like TIDAL either. From a Daily Beast interview…

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We wouldn’t have joined it anyway, even if they had asked. We don’t want to be tribal,” says frontman Marcus Mumford.

“I think smaller bands should get paid more for it, too. Bigger bands have other ways of making money, so I don’t think you can complain. A band of our size shouldn’t be complaining. And when they say it’s artist-owned, it’s owned by those rich, wealthy artists.”

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Source: Industry News

Spotify Desperately Needs Another $400 Million…

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Riddle me this: how can one startup be so bad at making money, yet so great at raising it?

According to details just published by the Wall Street Journal, Spotify’s money-burning bonfire is about to devour another $400 million, its seventh financing round.  Goldman Sachs is bankrolling a large portion of the mega-round, with an Abu Dhabi fund also a source of cash.

Spotify has previously raised $500 million, though that money has largely been burned through.  At roughly $900 million in aggregate financing, Spotify now carries an incomprehensible valuation of $8.2 billion.

That dangerously high valuation makes the company almost impossible to sell, and according to Wall Street Journal, there isn’t even a timetable for an upcoming Wall Street IPO.  “Nine-year-old Spotify, which previously raised more than $500 million in equity funding, hasn’t established any timeline for a possible IPO,” the Journal reports.

“The money-losing company needs the cash to support its costly business model of paying nearly 70% of its revenue to rights holders as royalties.”

 

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Meanwhile, Spotify is facing massive pressure from the ‘big three’ major labels to close their ‘freemium tier’.  The majors, which carry an ownership stake of roughly 15%, and are rumored to have unsuccessfully shopped Spotify at a price tag of $10 billion.

So far, there have been no takers.

 

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Source: Industry News