NEWS BRIEF: Groupon IPO, SXSW Deadlines Loom, Coldplay’s Digital Score, Touring $’s Up & More
The Groupon IPO raised $700 million on a valuation of $17.8 billion this morning with a price of $20 per share. The daily deals leader has a deal with Live Nation to sell excess concert tickets and has experimented with digital music releases by Rihanna, David Gray and others.
- The deadline for applying for a live showcase at SXSW is today (apply here) and the music tech showcase SXSW Accelerator deadline is rapidly approaching.
- More than 67% of the first week sales of Coldplay's new release Mylo Xpyloto were digital, according to Nielson Soundscan.
- In an earnings call late yesterday, Live Nation said that the concert business has stabilized despite a rough economy. The company posted improved numbers over the same quarter last year. (LA Times)
- The next edition of SF MusicTech Summit will be held February 13, 2012 at the Hotel Kabuki, San Francisco.
- Joel Tenenbaum Demands Rehearing of $675,000 RIAA File-Sharing Case. (TorrentFeak) "Tenenbaum argues that the jury instruction which led to a staggering $675,000 fine was both erroneous and prejudicial."