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150 creditors await Guvera's grand plan at Thursday meeting As previously reported, Guvera announced last month that Guvera Australia and Guv Services were now in administration after the parent company's ambitious plan to IPO was blocked by the stock market where it hoped to float, the Australian Securities Exchange. About 60 of the creditors are employees of the two subsidiaries who lost their jobs as the companies went into administration, though it is thought about a third of them may be offered work by the Guvera parent company, or another subsidiary, possibly including the newly incorporated Guvera Operations. According to Computer Daily News, attendees at the creditors meeting on Thursday might also include some of the 3000+ smaller investors who are thought to have put money into the flagging digital music start up as clients of accountants signed up to a thing called the AMMA Private Equity network, which is connected to Guvera co-founder Darren Herft. As previously reported, administrator Neil Cussen of Deloitte Australia told the Sydney Morning Herald last week: "Over the course of the next week we will be working with management to see if we can get a proposal that we can talk to the creditor group about in relation to a deed of company arrangement". It seems Guvera execs and their administrators hope that some deal can be struck to stop the two subsidiaries from actually going into liquidation, an arrangement which would also enable redundant staff members to collect any entitlements they are due. A liquidation of Guvera Australia would pose some interesting challenges. Aside from it forcing employees to seek their outstanding entitlements from the Australian government's Fair Entitlements Guarantee scheme, it's thought that it is actually the Guvera Australia business that has the label and publisher licences to stream music in the country, and it's not clear what would happen to them if that entity was wound down. As also previously reported, Guvera chiefs Claes Loberg and Phil Quartararo last week posted videos to YouTube bigging up their business and countering all the bad press the failed IPO and subsequent administrations have caused. They both insist that it is wrong to compare Guvera to Spotify and Apple Music, stressing that their core business is a free-to-access music platform aimed at more mainstream consumers who will never pay to stream. Guvera, they say, is chiefly in the advertising game, not the subscriptions business like most of its streaming music rivals. Though The Sydney Morning Herald points out that an update to the Guvera app last month removed chunks of functionality to free users, encouraging them to sign up to premium to regain those services. | ||||||||||||||||||||||||||||||
BMG buys Australian independent that launched the career of AC/DC Set up as a clock and violin repair shop in Sydney by Jacques Albert 131 years ago, the Albert family business diversified into selling musical instruments, then started buying up song copyrights and became a fully fledged music publisher. The label was added in the 1960s. The company continued to be run by Jacques Albert's descendents throughout. One of them, current Alberts CEO David Albert, said yesterday of the decision to finally sell the business to a bigger concern: "This was a difficult decision to make, but as music grapples with its digital future, with new distribution models and the influence of global technology companies, we believe BMG is in the best position to take the business forward. BMG has a global presence, an artist-friendly approach to business and a genuine desire to invest in and support the Australian music scene". Alberts will now become part of the recently launched BMG Australia, which will take on a number of the indie label's staffers, who will work under existing MD Heath Johns. He said of the deal: "No company has left a mark on Australian music like Alberts. It is an honour for BMG Australia to protect this profound legacy and also work with its exciting contemporary roster to further build their careers at home and abroad. This is a big vote of confidence in Australian talent and a recognition of Australia's status as the biggest international exporter of recording talent after the US and UK". While BMG top man Hartwig Masuch added: "This is an incredible opportunity to create a new leader in Australian music, combining Alberts' strengths with BMG's 21st century approach to the music business. As of today, Australian artists and songwriters wishing to tap into the world market have a genuine alternative to the established majors. BMG is very serious about the Australian market and this deal is an indication of our commitment". -------------------------------------------------- Hannah Trigwell partners with Absolute Label Services "YouTube has acted as a great fan acquisition tool for Hannah and other artists that have come to us with a YouTube background", says the company's Digital Director Adam Cardew. "The challenge lies in migrating that online presence across several digital music platforms to further an artist's career. For artists like Hannah, having Absolute provide a foundation of label services can ensure that next step is successful". Fellow YouTubers KSI and Bry have already used Absolute Label Services to put out their music beyond the video site. | ||||||||||||||||||||||||||||||
Dainty Group acquired by Australian live firm TEG "Joining the TEG group is a great opportunity for us to be part of a fully integrated entertainment and touring business", said founder Paul Dainty in a statement. Since launching the company in the 1970s, Dainty has worked with artists including The Rolling Stones, Michael Jackson, Britney Spears, Paul McCartney, Eminem, Guns N Roses and more, both in Australia and around the world. TEG CEO Geoff Jones added: "We have been able to take a fresh look at the integrated entertainment market in Australia and the Asia Pacific region, and we have seen some great openings for TEG and our partner companies. The acquisition of the Dainty Group is one of our most critical acquisitions to date and we look forward to harnessing the knowledge, experience and expertise that Paul and his team will bring to our whole business". Speaking to The Australian, Dainty added: "[Touring] deals are just so big now and I think being part of a large combination we will see one and one equalling three. As we bring the world's hottest acts under one roof with TEG-Dainty, hopefully we can do more top-tier tours, make them more money and grow even further from where we are". "When I started out artists derived most of their income from records", he continued. "Touring was still a very profitable business back then but the tours were designed to drive more record sales. The bottom line is that the change in the market dynamics have helped the touring business". Formerly known as Nine Live, this is TEG's latest acquisition since being acquired itself by private equity firm Affinity Equity Partners from Nine Entertainment Co. In April it purchased Life Like Touring and The Entertainment Store, which promote children's shows. -------------------------------------------------- Lollapalooza Colombia cancelled after headliner pulls out In a statement posted in Spanish on the event's website, organisers said: "After its lead artist cancelled just hours before the festival was scheduled to announce them, and unable to find a suitable replacement, the organisers of the festival have been forced to cancel the inaugural edition of Lollapalooza Colombia". Local news reports claim that Rihanna was the artist who withdrew from the event. Artists including Lana Del Rey, Cage The Elephant, Wiz Khalifa, Disclosure, Silversun Pickups and Pennywise had already been announced. Full refunds will be issued to those who had already purchased tickets. | ||||||||||||||||||||||||||||||
Will.i.am to stick with The Voice "I know 'The Voice' switched to ITV, but I'm not going to Brexit 'The Voice UK'", he said in a statement, also answering the question of why Will.i.am has never been asked to write topical jokes. "I'm delighted to be continuing 'The Voice UK' on ITV and being a voice of direction and guidance for the usual suspects. I'm happy to make ITV my home now. I love the UK". ITV's Head Of Entertainment Siobhan Greene also confirmed that the former Black Eyed Pea will be appearing on new spin-off show 'The Voice Kids', saying: "We are THRILLED to bits that Will.i.am's signed up to ITV for 'The Voice UK' and 'The Voice Kids'. He's such an important part of the DNA of the show and that was one of the many reasons we had to have him in his chair. Will's eye for talent, and unique and creative flair for mentoring means we can't wait to see what happens next". ITV wanting Will.i.am to stay on as a judge on 'The Voice' is perhaps something he wasn't expecting, given he basically dissed the franchise in a recent Q interview. Noting that winners on rival talent shows have generally enjoyed more success post-competition, he told the magazine: "OK, I can say it now - before I couldn't, and now I can. The singing shows that have been successful are 'The X-Factor' and 'Pop Idol'. Who's the consistent person working on those shows? Simon Cowell. Here's a person that ran a record label that is attached to TV shows - of course someone is going to turn into a fucking star". I'm not sure that's fair. I once saw a former winner of 'The Voice' judging a best dressed dog competition. They don't ask just anyone to do that. | ||||||||||||||||||||||||||||||
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Prince Online Museum archives star's many websites "We launch with twelve of Prince's most popular sites, but over 20 years online, Prince launched nearly 20 different websites, maintained a dozen different social media presences, participated in countless online chats and directly connected with fans around the world", director of the Prince Online Museum, Sam Jennings, tells Billboard. "This museum is an archive of that work and a reminder of everything he accomplished as an independent artist with the support of his vibrant and dedicated online community". Scroll back through highlights of Prince's online presence all the way back to 1994 here. -------------------------------------------------- Queen top 60th anniversary albums chart So that's nice. ABBA hits album 'Gold is in second place, while The Beatles 'Sgt Pepper's Lonely Hearts Club Band' is the highest ranking non-greatest-hits album, in at position three. Though Adele's '21' is trying its best to usurp the Fab Four, it being at number four. Says charts chief Martin Talbot on all this: "In celebration of 60 years of the UK's Official Album Chart, it is fantastic that we can crown Queen as the kings of the Anniversary Top 60. With seven albums by British acts in the all-time Top 10, and Adele's '21' now challenging The Beatles' 'Sgt Pepper' to be the biggest selling studio album of all time, it is a great list for homegrown talent". | ||||||||||||||||||||||||||||||
Warner Music, Independent Label Market, DJ Shadow, more Other notable announcements and developments today... Â Warner Music UK has promoted Andy Prevezer to the position of VP Press for Warner Bros & Parlophone UK & SVP Press Strategy WMUK. Which is quite a mouthful. "It's a proper privilege", says Prevezer. Â The Independent Label Market will mark its fifth anniversary by holding an Independent Label Market in London on 23 Jul. Details here. Â Ex-Paramore drummer Zac Farro has confirmed that he's recording drums on the band's new album. "That's it, and that's literally all it is right now", he told Idobi. Â DJ Shadow's 2003 Essential Mix for Radio 1 is something of a classic. Thirteen years later, he's done another one. Â Fergie has released a new Will.i.am-produced single, 'MILF$'. So... yeah. Â Here's the video for Tinie Tempah's new single 'Mamacita'. Â Ahead of his new album 'Pigeonheart', DM Stith has released new single, 'Amylette'. | ||||||||||||||||||||||||||||||
Spice Girls reunion called off As previously reported, Mel B said in a number of interviews last year that she was hoping to get the group back together to do "something" around the 20th anniversary. The Sun also reported that all members except Victoria Beckham were signed up, though mostly they denied that this was the case. The next twist in the tale came when Mel B said on 'America's Got Talent' that the plans had been pushed back to 2017, because it had taken so long to organise anything all the decent venues were now fully booked for 2016. And now the reunion doesn't seem to be happening at all. A source told The Mirror: "Mel C has been telling friends it's not happening - not for the anniversary and not next year. She's not interested in revisiting the band, and neither is Victoria. Their decision has made it impossible for the other three to go ahead with plans to tour again. They know it wouldn't be quite the same to get on stage as a threesome". "Doing it without Victoria would have been a shame but might have been a possibility", added the source, which is a fair point. "But two missing is too many. The Spice Girls' last reunion worked because it was all five of them and they gave their fans what they wanted. This feels a bit more like it would be cheating the fans, and none of them want to do that". But worry not, there's still the promise that 'Viva Forever' might one day return. | ||||||||||||||||||||||||||||||
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Send ALL press releases to musicnews@unlimitedmedia.co.uk - this is checked daily by the whole editorial team meaning your release will definitely get to the right person. For details of the training and consultancy services offered by CMU Insights click here - Andy and Chris are also available to provide music business comment, just email them direct. To promote your company or advertise jobs or services to the entire UK music industry via the CMU bulletin or website contact Sam on 020 7099 9060 or email ads@unlimitedmedia.co.uk | ||||||||||||||||||||||||||||||
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