1) Last month TVT Records laid off most of its staff and filed for bankrupcy. Founded by Steve Gottlieb in his New York apartment in 1985, TVT achieved success after releasing music by Nine Inch Nails and KMFDM. In recent years, the label has focused on hip-hop acts such as Lil Jon, Pitbull and Ying Yang Twins.
Sources: Rueters and AllHipHop.
2) In recent weeks, Trent Reznor (former TVT Records act with Nine Inch Nails) earned $1.6 million in sales with NIN's new album, Ghosts I-IV, which was released independently, without a record label. Ghosts was offered to fans at various price points, from a free download to a $300 deluxe package.Sources: News.com and The Globe and Mail.
3) iTunes has surpassed Best Buy and Target to become the second largest seller of music on the planet, second only to Wal-Mart. However, the first-place retailer is cutting back on space for music CDs in its stores while download sales continue to grow, which means iTunes will likely surpass Wal-Mart by the end of 2008.
Apple says 50 million customers have bought over 4 billion songs since iTunes started, with 20 million downloads sold on Christmas Day 2007 alone.
Sources: News.com and Engadget.
4) A December survey by The Pew Internet & American Life Project asked participants which technologies would be hardest to give up. The Internet, at 45 percent, narrowly edged out TV, at 43 percent. Five years ago, a similar survey rated the Internet at 38 percent and TV at 47 percent.
Sources: St. Louis Post-Dispatch and Pew Internet.
-Bob
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