• U.S. Internet ad revenue hit a record $31 billion in 2011, up 22 percent from 2010. Who says we’re in a recession?
     

  • Facebook launched a new “listen” button that allows users to listen to music on all artist pages. The new app is powered by Spotify.
     

  • Speaking of Spotify, the music-streaming service just announced a global deal with Coca-Cola. Most likely they’re planning world domination.
     

  • The European Union approved Sony’s acquisition of part of EMI. EMI manages the rights to Amy Winehouse and owns the publishing rights to Ozzy Osbourne among others.
     
    Industry Wrap is a weekly CMJ column covering industry-related music news. Send tips to Kate Shapiro at kshapiro [AT] cmj [DOT] com.