Twitter invests $70m in SoundCloud
Twitter has invested around $70 million in SoundCloud as part of a round that is expected to value SoundCloud at about $700m. Twitter CEO Jack Dorsey declined to comment on specifics, but confirmed that Twitter, which was linked with buying the streaming service outright two years ago, now owns a stake in the company. “Earlier this year we made an investment in SoundCloud through Twitter Ventures to help support some of our efforts with creators," he said. "They've been great partners of ours over the years and their community-supported approach mirrors ours in many ways.” (Recode)
Foo Fighters sue insurance companies
The Foo Fighters have filed a lawsuit in Los Angeles against Lloyd's of London, several insurance companies and the insurance broker responsible for securing the policies, Robertson Taylor, alleging they have "failed to pay amounts that even they appear to recognise are due and owing" on insurance claims the band made on several shows cancelled during its 2015 world tour. The band postponed seven shows after Dave Grohl broke his leg on June 12 last year. (Billboard)
Page and Plant appear at Staiway To Heaven trial
Led Zeppelin singer Robert Plant and guitarist Jimmy Page have appeared in court in Los Angeles for the opening day of the Stairway To Heaven copyright infringement case brought against them by the estate of the late Spirit guitarist Randy California. The lawsuit claims that the song's opening chords were taken from Taurus, a 1967 track by Spirit. (BBC)
BPI and MPA unveil Germany trade mission
The BPI and Music Publishers Association have announced initial details of their annual trade mission to Germany, taking place from September 20-24. Returning for a third year in succession and supported by UK Trade & Investment (UKTI) as part of its MUSIC IS GREAT campaign to promote British music exports, the initiative offers UK record labels, music publishers and entrepreneurs direct insight to the world’s fourth largest recorded music market, where last year one in every six albums purchased were by British artists. The mission will enable participants to meet face-to-face with local music executives and to gain a clearer and more detailed understanding of the German music market. For the first time the 2016 programme will encompass activities in Berlin and Hamburg. The deadline for applications is July 27.
Elections watchdog denies shutting down Brexit festival
The elections watchdog has denied shutting down Brexit pop festival BpopLive after organisers accused it of "killing off" the event. Sister Sledge, East 17, 5ive, Alesha Dixon and Sigma were among the acts who had pulled out of the festival after finding out it was a political rally. Tickets were slashed from £23 to £5 for the now scrapped event at Birmingham's Genting Arena. Leave.EU blamed the demise of the "Last Night of the Brexit Proms" on the Electoral Commission, accusing it of waging a "spiteful vendetta". Elvis impersonator Gordon Hendricks and Cheryl Baker, Jay Aston and Mike Nolan, who made up three quarters of Bucks Fizz, were set to play the 15,000-capacity venue on Sunday. The Electoral Commission said it had "outstanding queries" about the event but had not called for it to be cancelled. (BT)
Photo Finish partners with Caroline
Photo Finish Records has announced a partnership with Caroline which will see Caroline distribute the New York-based indie label's releases. The arrangement includes upcoming albums by The Mowgli's and Handsome Ghost, as well as recordings by the label's newest signing SHAED. (Billboard)
Deezer launches Health & Happiness TV campaign
Deezer has gone live with its original Health & Happiness TV campaign; a series of three new 30-second TV adverts starring some musically-minded animal friends. The new ad series will focus on Flow, Deezer’s personalised soundtrack tool. Each ad observes the positive effect that listening to a steady stream of music you love can have on your health and happiness. In tongue-in-cheek style, the observed music fans are animals who must choose between Deezer Flow or an alternative offer from their companions. In addition to the on-air adverts, Deezer will be launching online versions of the ad which will incorporate a specially created ‘animal frequency soundtrack’ so pets can enjoy the adverts as well.