Hot Topic to discontinue ShockHound.com business:
SAN FRANCISCO (MarketWatch) -- Hot Topic Inc. said late Monday it will take a $15 million charge, or 21 cents a share, in the first quarter as a result of discontinuing its ShockHound.com business. Excluding the charge, the specialty retailer expects a loss of 1 cent to 4 cents a share in the first
* Hot Topic division merchandising chief Amy Kocoureke quits * To write down unproductive inventory * Sees $0.21/shr charge primarily in Q1 * Sees Q1 shr loss $0.01-$0.04
Top Analyst Reviews Spotify's Financials, Declares Business http://shar.es/5RxwZ via @sharethis
Top Analyst Reviews Spotify's Financials, Declares Business "Unsustainable" [CHART]
PrivCo, a financial analysis firm focusing on private companies, got a look at Spotify's just closed full year financials and declared the music streamer's business model "alarming" and "unsustainable". While Spotify revenue jumped 151% in 2011 to $244 Million, "virtually every new dollar of revenue went directly to music companies as royalty payments, evidencing the fact that the more members Spotify adds, the more money the company loses".
The Shattered Hit Record Model
BY: Bobby Owsinski
We’ve all heard the complaints about the current Music 3.0 music industry model: physical product doesn’t sell anymore, download sales don’t make up for the shortfall, and streaming music cannibalizes sales and pays a pittance in royalties. Then let’s heap on the accusation that music today is so formula and soul-less and generally a shadow of what it once was.
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