Social Media Accounts For 22.5 Percent Of Internet Time In U.S.
Americans spent 22.5 percent of their time on the Internet utilizing social media during the third quarter of 2011, compared to 9.8 percent for online games and 7.6 percent for email, according to Nielsen's "State Of The Media: The Social Media Report." Facebook was the most visited social media site in May, with users spending a total of 53 billion minutes on the site and 70 percent of U.S. Internet users visiting the site. Free weblog publishing tool Blogger was the second most visited site with 723.8 million minutes spent by users, followed by Tumblr (623.5 million minutes), Twitter (565.2 million minutes) and LinkedIn (325.7 million minutes). (9/13)
German Digital Music Market On The Rise
Germany's digital music market was up 19.3 percent for the first six months of 2011 with digital revenue totaling $152.8 million, up from $128.1 million in the year-ago period, and accounting for 17.2 percent of total music sales, according to the German Federal Music Industry Association. Sales from online subscription services increased 21.4 percent, while streaming services accounted for 11.5 percent of the digital market with $17.4 billion in revenue. Total sales of physical and digital products reached $888.6 million, down 1.5 percent compared to last year. (9/13)
BMG Rights Management To Purchase Bug Music
BMG Rights Management, the Berlin-based joint venture between Bertelsmann AG and private equity firm Kohlberg Kravis Roberts & Co., will reportedly purchase Los Angeles-based publisher Bug Music for an estimated $300 million. Bug Music's catalog contains more than 250,000 songs, including Louis Armstrong's "What A Wonderful World" and the Drifters' "Under The Boardwalk," and the company's clients include the estates of Johnny Cash, Willie Dixon and Stevie Ray Vaughan. While terms of the agreement were not disclosed, the deal is expected to be finalized by October. (9/13)