SEC chair implies crypto exchanges may not be ‘qualified custodians’ as new rule is draftedGary Gensler praises the SEC Investor Advisory Committee’s proposed rule on safeguarding advisory client assets but thinks crypto firms may not be up to snuff.

Universal Music Group generated more than $1bn per quarter, on average, from recorded music subscription streaming in 2022UMG posts double-digit YoY growth (just!) in its recorded music subscription streaming revenues
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Gibson Records Signs Ghost HoundsGhost Hounds (L-R): Joe Munroe (keys), Thomas Tull (guitars), Tré Nation (lead vocals), Bennett Miller (bass), Johnny Baab (guitars), and Blaise Lanzetta (drums).

Gibson Records--which delivers guitar-driven music to the forefront of culture--has announced its second album release will launch with the signing of the rock ‘n’ blues group, Ghost Hounds. Gibson Records will release the new album from Ghost Hounds, globally in June 2023, in partnership with Firebird Label Services for distribution. Fans can pre-save the first single off the forthcoming album titled “Dirty Angel” set for release on Thursday, March 9, HERE.

The new Ghost Hounds album follows the first official release from Gibson Records, Slash Ft. Myles Kennedy & The Conspirators’ acclaimed fourth full-length album titled 4, which was released last year in partnership with BMG.

Headquartered in Music City, Nashville, TN, Gibson Records works with Gibson artists to produce, record, and promote their music to fans around the world under an artist-friendly partnership. Gibson Records continues the evolution of the Gibson Brands multi-media platform, which supports collaborative artist partnerships and brings experiences to music lovers worldwide, generating forever fans across the globe. Over the past three years, Gibson has launched successful music initiatives built around their iconic brands, premium guitars, and amazing artists. Not to mention initiatives that have re-energized the Gibson fanbase on the worldwide stage and the music community at large, including Gibson Artist Collections, the award-winning online network Gibson TV which creates cinematic original series, books and multimedia content from Gibson Publishing, A.I.-enabled interactive, guitar-learning on the Gibson App the mentorship program for young players Gibson Generation Group (G3), the philanthropic arm Gibson Gives, and the global flagship store the Gibson Garage--the ultimate guitar experience and music destination in Nashville.

GHOSTHOUNDS.COM

Universal Music, Deezer partner to test new streaming revenue modelsDuring an investment call Thursday, Universal Music announced that it had partnered with EU-based streaming music service Deezer to develop a “new model” where “artists are rewarded for the fans. Continue reading
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HYBE says it ‘has been considering the acquisition of SM Entertainment for a long time’ as it launches campaign to win support from SM shareholdersHYBE says campaign was developed "to protect shareholder value from inappropriate actions by the current management at SM".
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Lunacy Audio’s CUBE Mini Is FREE With Any Purchase At Plugin Boutique
Plugin Boutique offers the CUBE Mini creative sound design plugin by Lunacy Audio as a free add-on with any purchase in March. It is that time of the month, and Plugin Boutique’s monthly freebie has rolled over. We bid Guitar Rig 6 LE and Timeshaper 3 adieu and say hello to CUBE Mini from Lunacy [...]
View post: Lunacy Audio’s CUBE Mini Is FREE With Any Purchase At Plugin Boutique

Sound Productions 50th Anniversary SoundPro are planning to host an event for their team members, customers and vendor partners in Fall 2023 to celebrate the company's 50th anniversary. 

NIVA names 300+ indie performers as ‘Live List’ favoritesThe National Independent Venue Association (NIVA) has partnered with Hollywood’s The Black List to produce The Live List, to shine the spotlight on performing musicians, performers, and comedians. Kicking off with a TIDAL-sponsored event at SXSW, the. Continue reading
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Sound Dust SPONGE PIANO2 Cramer upright piano+ human thumb x bathroom sponge = SPONGE PIANO2 A beautifully recorded character piano with the warm thump of strings deadened by a well sponged thumb. Sponge... Read More

Minimal Audio release Cluster Delay Minimal Audio's latest plug-in creates delay sequences which can be shaped over time and processed with a range of built in effects and modulation functions. 

New GLX-D+ wireless systems from Shure The latest version of Shure's digital wireless systems offer improved performance and battery time, and come with a wide range of transmitter options. 

Australian central bank to launch 'live pilot' of CBDC in coming monthsThe use cases for the CBDC ranged from offline payments to "trusted Web3 commerce" and financial industry participants were invited to undertake a live pilot.

Salesforce strikes backIt would be an understatement to say that Salesforce has been having a rough ride of late — from activist pressure to executive departures and layoffs — it seems like everyone was piling onto a company that was already struggling as profits declined.
It needed a strong quarter, and all indications were they wouldn’t get it. Against all odds, though, the CRM leader defied the street with a strong report.
Today after the bell, Salesforce reported its fiscal fourth-quarter earnings, including revenue that topped expectations and guidance that came in ahead of street estimates.
The street had expected Salesforce to report revenues of $7.99 billion in its most recent quarter; it reported top line of $8.38 billion, up 14% compared to the year-ago period, and three points better in constant currency terms.
In terms of the future, investors had forecast that Salesforce would generate revenues of $8.05 billion in its present quarter (Q1F24), and $34.03 billion for its new fiscal year; instead, Salesforce expects revenue between $8.16 billion and $8.18 billion in its current quarter, and revenues of $34.5 billion to $34.7 billion for the full fiscal year.
TechCrunch noted earlier this week that the way for Salesforce to get out of its jam would be to beat growth estimates and improve profitability. The company certainly managed the former. The company is forecasting stronger profits as well. Salesforce reported GAAP and non-GAAP operating margins of 3.3% and 22.5%, respectively. In its newly started fiscal year, the company expects GAAP and non-GAAP operating margins of around 10.8% and 27.0%, respectively.
Salesforce crushed expectations and doubts concerning its recent growth, forecast better-than-anticipated growth for the year, and told investors to expect an overall stronger operating profit result for its new fiscal year.
This could take some wind out of the sails of Salesforce’s critics. The company’s many detractors of late were lining up to find fault with its spending, especially compared to others in the industry, and these operating numbers in particular could help Salesforce executives as they continue to negotiate with a legion of activist firms.
It’s worth noting that just this morning, Elliott Management, one of the five activists working inside Salesforce at the moment, announced a slate of candidates for the board of directors, a move that usually means it wants to force its agenda onto a company. A bad report would have made that job a lot easier.
Investing critics of the company might also have wanted to see, say, a greater level of anticipated shareholder return. That can come in various forms, including dividends, share buybacks and other efforts. Salesforce has historically opted for share buybacks, given its strong cash generation. After noting in its report that it returned 57.5% of the $4 billion it spent on buybacks last fiscal year in its trailing quarter, the company also announced that it is increasing the size of its buyback to $20 billion in total.
Naturally you could argue that Salesforce is amping up its share repurchases to dampen external criticism and appease the activists who are looking for a better return; true, but even if so it has a similar effect. It will repurchase the shares and has the cashflow to do so. It’s hard to argue about intent when the expected result is likely in line with what external investors wanted.
Salesforce will retain critics concerning its cost structure and the fact that its expected growth in its current fiscal year is just 10%. But compared to where the company was earlier this week, its earnings report has proven a good sheaf of its critics wrong, and perhaps bought it more time to make the case that it really does know what it is doing.
Salesforce strikes back by Ron Miller originally published on TechCrunch

SoundExchange royalty distribution rose to $255.6M in Q4SoundExchange distributed $255.6 million in digital royalties to creators in Q4 2022, an increase of 2.5% over Q4 2021. SoundExchange collects and distributes non-interactive digital performance royalties (Pandora, SiriusXM, online. Continue reading
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House panel approves bill that could lead to total TikTok ban in the USTikTok has around 100 million users in the US
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