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U2 Frontman Defended Spotify
Bono has recognized streaming music services as an attractive method for the artists to get their creations heard. He also defended Spotify from criticism of the amount of royalties it pays out to musicians and songwriters.
53m Email Addresses Stolen from Home Depot
The home improvement giant had to admit that hackers stole 53 million email addresses, aside from obtaining payment card information over a 5-month data breach earlier in 2014.
FBI Arrested Silk Road 2.0's Owner
The FBI and Europol claimed they shut down the latest version of the online drug store and arrested its alleged operator. Blake Benthall, 26, was arrested on federal charges related to his allegedly running a new version of Silk Road. This one, just like the original marketplace, is known for letting people buy and sell illegal drugs and other prohibited goods anonymously.
SoundCloud Signed with Warner Music Group
SoundCloud has recently reached an agreement with Warner Music Group. This is considered to be a significant move for the 2nd largest streaming music service after YouTube. Although SoundCloud has 175 million monthly users, it hasn’t paid royalties to musicians or labels since it was founded six years ago.
Taylor Swift Quit Spotify
Last week, Taylor Swift was seen establishing herself as the most powerful 24-year-old in music industry ever. Her latest album is expected to have the largest sales week for any album over the last decade, since Eminem sold over 1.3 million copies of The Eminem Show in its first week. 1989 will also be the first album to sell more than 1 million copies in the United States in 2014 amid declines across the music industry.
UK Calls to Invest in Technology
The United Kingdom seems to have a need to double innovation funding and launch new technology centers. One technology entrepreneur has proposed a British network of centers where scientists could turn their inventions into commercial products. He is now surprised at how well the government’s first crop of Catapult centers had progressed. The entrepreneur’s initial advice was made in a report for the Labour government 4 years ago and adopted later in 2010.
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Kim Dotcom Fights for His Money Seized in Hong Kong
Kim Dotcom loved doing business in Hong Kong, but the local court decided to authorize the seizure of $42 million of Dotcom’s money two years ago. Dotcom continues to fight for his money, arguing that justice officials misled the courts.
Hungary Rejected Draft Internet Tax Law
Hungary’s Prime Minister, Viktor Orbán, said that he scrapped the plans for a controversial Internet tax law, explaining that it just can’t be introduced in its current form. Tens of thousands of protesters went out to the streets of Budapest to express their discontent with the law. Most of them regard the tax as just another try to crack down on opposition voices and curtail civil liberties.
The Pirate Website Owners Faced $10 Million Fine
Federal court has recently ordered the owners of a number of small streaming services to pay about $10 million in damages to the entertainment and media conglomerate ABS-CBN, which welcomed the outcome as a landmark victory.
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