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In the ‘00s, The Smashing Pumpkins frontman Billy Corgan looked at the disruptive nature of early social media platform MySpace and saw the death of the record label. It didn’t exactly work out that way — not with MySpace, not with Facebook, not with TikTok. In fact, the major music companies became adept at using these platforms to break artists and perpetuate their market power; if there’s a breakout song on TikTok, labels rush into an old-fashioned bidding war. While social media certainly disrupted the music business, it didn’t uproot the traditional record label model. There have been numerous other game-changers over the years that failed — on their own, at least — to radically alter how major labels do business, including independent distribution. After TuneCore launched in 2006, major labels continued to sign artists and own their intellectual property, albeit to broader “360” deals that incorporated more than recorded music rights. Nor did the advent of streaming by itself reshape the structure of major record labels. The artists with the most streaming success are involved with major labels in one way or another, be it a traditional record contract, a joint venture or, in rare cases like Taylor Swift , a distribution deal. Corgan may have misjudged social media’s sole impact on record labels, but he wasn’t entirely wrong about its ultimate influence. When combined, social media, independent distribution and streaming form a potent combination that has changed the balance of power and induced major labels to change how they promote music around the world. This dynamic isn’t exactly new, but it was never clearer than in 2024. This year, major labels have increasingly embraced the role of being service providers to those parties who prefer to remain independent and retain ownership of their intellectual property. A few years ago, Universal Music Group (UMG) was pouring money into superstar acquisitions such as Bob Dylan ’s and Sting ’s song catalogs. More recently, the company has been focusing on its artist services model. In the last three months alone, UMG acquired indie label group [PIAS] and agreed to acquire Downtown Music Holdings for $775 million, though the proposed deal has encountered opposition from the independent music community and will need to pass regulatory scrutiny before being finalized. The company also purchased Outdustry — which has an artist- and label-services arm that focuses on China, India and other high-growth emerging markets — and bought a stake in Chord Music Partners, giving UMG distribution and publishing administration duties for the more than 60,000 songs in the investment vehicle’s catalog. In fact, 2024 played out much like UMG CEO Lucian Grainge said it would. His January memo predicted the company would continue to expand globally and offer labels outside of mature markets a “full suite of artist services” while “acquiring local labels, catalogs and artist services businesses.” To be fair, UMG was already on that path: In 2022, it acquired m-theory’s artist services company and installed its founders, JT Myers and Nat Pastor , as co-CEOs of Virgin Music Group to expand Virgin’s independent music division globally. Warner Music Group (WMG) appears to have sensed the shifting landscape, too, as there has been a noticeable shift in messaging during Robert Kyncl ’s tenure as the company’s CEO. In the Stephen Cooper era, WMG was the music community’s leading investor in Web3 startups. In contrast, Kyncl has chosen to focus on expanding WMG’s footprint globally. WMG briefly signaled its interest in acquiring Believe in March and April after the French company announced a CEO-led effort to take the company private . Notably, Believe has a global label services business and a presence in developing markets that take advantage of the “glocalization” of local markets and global streaming platforms’ ability to help music travel across borders. WMG ultimately passed on pursuing Believe, but Kyncl has followed his peers’ interest in emerging markets, purchasing stakes in Indian companies Divo and Global Music Junction. The service model isn’t an entirely original approach. Grainge wrote that UMG is “creating the blueprint for the labels of the future,” but UMG is doing what major music companies have always done: following trends and buying independent companies that established a particular market. Sony Music already bought into the service model with The Orchard and AWAL, the latter purchased in 2022 for $430 million. Independents such as Believe, OneRPM and Symphonic Distribution have become established players by combining distribution and artist services, while investors have poured money into independents such as Create Music Group — which this year raised $165 million at a $1 billion valuation — and gamma, which is backed by $1 billion. But the well-established blueprint was never more of a hot commodity than in 2024. In the music business, nothing signifies the relevance of a business model like the major labels’ desire to buy it and integrate it into their systems — especially when the largest music companies feel they have no choice. The holy trinity of social media, independent distribution and global streaming platforms has given artists an alternative to the much-derided major label record contract. Artists who want to own their intellectual property and have more creative control have never had more of the tools necessary to be independent. That includes financing options, such as advances from well-funded independents or royalty advances from a new breed of financial services companies. When there’s no need for radio promotion and shelf space at brick-and-mortar retailers, the independent model looks a lot more attractive — not only for artists but for the major labels that have become increasingly keen on buying into it. Ironically, the major labels’ acceptance of the independents’ business model means the music business is becoming less independent. Trade groups such as the Association of Independent Music and IMPALA quickly spoke out against UMG’s agreement to purchase Downtown, just as they did with Sony Music’s purchase of AWAL. U.K. regulators ultimately concluded that AWAL was a “relatively small player” and that the deal did not substantially reduce competition. Time will tell if competition watchdogs feel the same about UMG’s much larger purchase of Downtown. In any case, the independents have proved that artist and label services businesses are a good fit for the modern music business. The next step was always going to be consolidation.
Vicheslav/iStock via Getty Images Investment Thesis I do not consider Bio-Rad Laboratories ( NYSE: BIO ) to be a good investment opportunity. Between 2017 and 2024 Q3 TTM, the net sales of Bio-Rad only grew by 2.67% annually. In addition, the Clinical Diagnostics segment is the Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Who are the 10 biggest UK lottery winners?
After starting 2-0 in its inaugural Atlantic Coast Conference schedule, SMU looks to make the month even more special on Sunday, hosting Longwood in Dallas, Texas. The Mustangs seek a seven-game win streak in their final nonconference test before welcoming No. 4 Duke to Dallas on Jan. 4. In recent victories over Alabama State, Virginia, LSU, and Boston College, SMU (10-2) averaged 85.3 points per game, allowed just 66.0 ppg, and climbed to No. 30 in the NET rankings. "We're a different team right now than we were earlier in the season," SMU head coach Andy Enfield said at the beginning of December, his words ringing even truer as the season progresses. "They'd never been under pressure together until recently, so they're starting to learn and figure things out." Longwood (11-3) enters its third consecutive road game, having won five of its last six overall. That includes a major 82-67 win at North Carolina Central on Dec. 20. It was only the sixth nonconference home loss for NCC since 2016, and Longwood head coach Griff Aldrich saw it as a result of his team's growing cohesiveness. "We got great contributions from so many players," Aldrich said. "We have been working to play more and more connected, and this team has really taken positive steps this week." The Mustangs' Matt Cross is among the biggest threats to Longwood's defense, which allows just 66.6 points per game. A 6-foot-7 forward, Cross had 36 points over SMU's last two wins, including a 16-point, 16-rebound double-double against LSU. What Cross does with the ball in his hands is impressive -- he is averaging 13.5 ppg in December -- but it is also what he does off the ball that increases his value. "He's extremely tough," Enfield said after Cross' performance against LSU. "His wall up in transition, where (Corey) Chest came down, was going to dunk the ball, and he stood there and took the contact. ...That's a big-time basketball play." Longwood is paced by Michael Christmas, a veteran forward in his fourth year in the program. A hard-nosed wing who can score at all three levels, Christmas is Longwood's only returner who started at least 30 games on last year's NCAA Tournament team. He is averaging a team-high 11.9 points per game. "(He) loves this university, loves this town and community," Aldrich said of Christmas. "He opted to come back here to really invest in the program." --Field Level Media
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AAP FACTCHECK – A list of patent numbers is being shared on social media as supposed evidence that various diseases such as AIDS, Ebola and mad cow disease were initially created by humans. But this is false. Some of the patents listed don’t exist, while others are for a potential cure or vaccine, or for altered versions or the genomic sequence of a pathogen. But this does not mean the virus or disease was created by humans. The claim appears in a Facebook post featuring a list of viruses and diseases alongside corresponding patent numbers. “You cannot patent anything that occurs naturally – so it has to be ‘altered’ if you get the drift...” the caption reads. Another Facebook post includes a similar list, with text reading: “Hint: Natural products cannot be patented: only man-made products. They are developed in a lab.” Patents are a type of intellectual property designed to protect new inventions including devices, substances, methods or processes. Biological material in its natural state, i.e. that hasn’t been isolated, modified or recombined, is not eligible for patent protection, but a patent can be granted if this has occurred, which is typical for research and vaccine development . The first patent number in the social media posts is 5676977 , listed next to AIDS – the acquired immunodeficiency syndrome caused by human immunodeficiency virus (HIV). This application is not a patent for either AIDS or HIV, but for “tetrasilver tetroxide molecular crystal devices”, which the inventors hoped could offer a treatment for the disease. The application was filed in 1996 but has since expired. Patent number 8835624 corresponds to the H1N1 virus, which causes swine flu. This application is not for the virus itself but for an aptamer – a strand of deoxyribonucleic acid (DNA) or ribonucleic acid (RNA) that can bind to certain molecules on the surface of a pathogen. The inventors hoped it would be effective in the detection of H1N1. Patent 20120251502 is a patent filed by the US Centers for Disease Control and Prevention (CDC) in 2009 that covers the composition of EboBun, a strain of the Ebola virus. It is not the original virus, but a strain that was identified and isolated from a patient in Uganda and protected to ensure further research, vaccine development and testing could occur. The patent has since been abandoned. Patent CA2741523A1 also relates to EboBun, not swine flu as described in the post. It was filed by the CDC to the Canadian Intellectual Property Office and covers an isolated version of the virus. The post claims patent number 0070031450A1 is for bovine spongiform encephalopathy (BSE), which is a neurodegenerative condition in cows commonly known as mad cow disease. There is no patent matching this number, but there is an abandoned application for an animal vaccine formulation under a number with one digit difference – 20070031450A1 . Similarly, ATTC VR-84 in the post, listed to correspond with Zika virus, is not a patent number. ATTC may be a misspelling of the ATCC – the American Type Culture Collection – which collects and stores microbiological specimens. VR-84 is the name of a Zika virus strain listed on the ATCC’s website. The post lists two patent numbers for SARS (severe acute respiratory syndrome). Patent application 7897744 was filed by the Public Health Agency of Canada in 2004 and covers the genomic sequences of SARS for the purpose of diagnosis and treatment. Number 8506968 is an expired patent for a vaccine composition and included modified viral particles. The final patent listed is 10130701 , which relates to a weakened version of a coronavirus that could be used for the development of an animal vaccine. Coronavirus is an umbrella term for a large number of viruses that cause illness in humans and animals. Reuters reported that the patent, filed by the Pirbright Institute in 2015 – a British research institute dedicated to the study of infectious diseases of farm animals – is for a bronchitis virus affecting birds and is not related to SARS-CoV-2, the virus that causes COVID-19. Reuters and Full Fact have also debunked the claim. All information, text and images included on the AAP Websites is for personal use only and may not be re-written, copied, re-sold or re-distributed, framed, linked, shared onto social media or otherwise used whether for compensation of any kind or not, unless you have the prior written permission of AAP. For more information, please refer to our standard terms and conditions .‘I still have nightmares about that play’: Ohio State quarterback Will Howard still thinks about sliding as time expired in loss to Oregon49ers' Kyle Shanahan confident Nick Sorensen will grow as a coach
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Family of Lyle and Erik Menendez told a judge Monday they want the men freed from the life sentences they are serving for the shotgun murders of their parents, as their court case suffered a delay. The pair have been in prison since a blockbuster trial in the 1990s that became almost compulsory viewing for millions of Americans. Television audiences were riveted by the gruesome details of the slayings of Jose and Kitty Menendez at the family's luxury Beverly Hills mansion. The two men, who have spent more than three decades behind bars, had been due to appear by videolink at a hearing in Los Angeles, their first court appearance in 28 years as a campaign to set them free gathers pace. But technical difficulties scuppered the appearance and the hearing was pushed back to the end of January. Nevertheless, Judge Michael Jesic called the two men's elderly aunts to the stand to hear them plead for the brothers to be freed. "I would like to be able to hug them and see them," Jose Menendez's older sister Terry Baralt, 85, said. "I would like them to come home." Kitty's sister, Joan Vander Molen, echoed that. "No child should go through what Erik and Lyle went through," she said. "They never knew if tonight will be the night when they would be raped." Prosecutors painted the crime as a cold-hearted bid by the then-young men -- Lyle was 21 and Erik was 18 -- to get their hands on their parents' $14 million fortune. But their attorneys described the 1989 killings as an act of desperate self-defense by young men subjected to years of sexual abuse and psychological violence at the hands of an abusive father and a complicit mother. The case saw a huge surge of renewed interest this year with the release of the Netflix hit "Monsters: The Lyle and Erik Menendez Story." The hearing comes after a campaign to secure their release, supported by Kim Kardashian and other celebrities. "Set them free before the Holidays!" wrote Tammi Menendez, Erik's wife, on social media last week. Public interest was such that the court held a lottery for the 16 seats in the public gallery. Nick Bonanno, a former high school classmate of Erik's, was the first to arrive at the court, taking his place at the head of the line at 4:30 am (1230 GMT). "I wanted to show support to... Eric and Lyle," he told AFP ahead of the hearing. "It's all about supporting and healing, not just for the families, but for us as a culture." Elena Gordon, 43, said she wanted "to witness a part of our local history." The hearing was intended as a starting point for lawyers working on three routes to free Erik Menendez, 53, and Lyle Menendez, 56. Attorney Mark Geragos has filed a writ of habeas corpus, an attempt to effectively vacate the brothers' first-degree murder conviction, which could free the brothers immediately. Another route is an effort to get the men re-sentenced on the same conviction, which would open the way for them to request parole. Finally, Geragos has submitted a clemency request to California Governor Gavin Newsom. Journalist Robert Rand, who wrote a book about the case, and who is in regular touch with the brothers, said the family was optimistic. But, he said, no one was expecting any quick fixes. "They're hopeful," he said. "They don't know what's going to happen. "I believe this could take much longer than was originally anticipated. It could be six months, could be eight months, could be a year, but eventually they will get out." With excitement over the case near fever pitch, tourists are regularly making pilgrimages to the Beverly Hills home where the killings took place. Australian Christian Hannah, who was born almost two decades after the double murders, made sure the home was a stop on his tour of celebrity hotspots, because of his fascination with the Netflix show. "It's really awesome seeing it in person," he told AFP last week. "It's just because you see it on TV and you see it in person, just feels really cool." pr-hg/amz/jgc Get any of our free email newsletters — news headlines, sports, arts & entertainment, state legislature, CFD news, and more.
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