Sony just reported a $2.9 billion loss this year due to the strong yen, flooding in Thailand and the dismal worldwide economy.
Who needs a Grammy when you could have a Springsteen bust? - Flickr photo via Kezee
Song-tagging app Shazam is offering special content (and gift cards!) to users during the Super Bowl.
Bruce Springsteen will perform on the Grammys.
In what may be possibly the weirdest news of the week, Macy Gray is set to release a cover album of songs by Radiohead, Metallica, My Chemical Romance and many other random bands.
Indie label Frenchkiss announced a partnership with distribution company the Orchard. Frenchkiss is the home of the Hold Steady, the Antlers, Les Savy Fav and more.
Adele has now topped the Billboard 200 for 18 weeks.
Edgar Bronfman Jr. says the looming Universal-EMI merger “would create what I call a super-major that would control not only the future of recorded music but the future of all digital media.” Does anyone want to heed the warning of an insider trader?
Lisa Marie Presley wants to make a movie about Elvis that is actually good. Come on, Lisa, haven’t you seen Bubba Ho-Tep?
Soul Train creator Don Cornelius died at 75 this week.
And now here’s some news about companies that make more money than you do: Vevo, the online music video service, made $150 million in 2011.
Industry Wrap is a weekly CMJ column covering industry-related music news. Send tips to Kate Shapiro at kshapiro [AT] cmj [DOT] com.