CBGBs Closes Up Shop, Moves to Vegas

So the venerable punk club has committed the highest sin of all... selling out to Vegas. Ugh.

Music critic Greg Kot on the Future of Music Summit

The Future of Music Summit is over, but here's what critic Greg Kot had to say.

Google YouTube Merger to CHANGE EVERYTHING, shout hysterical media analysts

See the hysteria for yourself here.

Crain's Chicago Business takes a look at the Chicago music industry this week with a series of reports. The report takes a look at the history of the industry in Chicago and why its still a music destination. (Can you say "Lollapalooza") They also profile local band The M's on their search for rock n' roll stardom, talk to engineer Steve Albini about his studio, profile microphone company Shure Inc, ask the indie lables how they feell about the digital music revolution, tell you how to navitage the wedding band industry, explore the efforts of the Chicago Sinfonietta to attract new younger audiences, and finally talk to a composer about mixing music with business. Its a thorough and fascinating report - take a look.

Mercury picks up U2 from the Island

No, the Irish rock band wasn't stranded on an island, but U2 did switch record labels from Island Records, their longtime home, to Mercury Records. Both labels are within the Universal Music Group, and Jason Iley, who's team handled U2 at Island, was recently made president of Mercury. U2's greatest hits album is due next month.

Google Buys YouTube, Sony and Universal Offer Music Videos

Didn't we see this coming? Premier video sharing site YouTube has been bought by Google. The site, which was started by two twentysomethings in a garage, went for $1.65 billion, in a move many say is reminiscent of the dot-com boom of the 90s. Earlier that day, record labels Sony and Universal both announced deals they had made with YouTube to share music videos via the website. Apparently, the internet killed the video star.

MySpace Hosts Concerts for Sudan, United Nations Asks Lonely

We talk a lot on this blog about the ways in which social networking sites and new technologies have been harnessed by bands, record labels, radio stations and music marketers to get their business more exposure. It's nice to see that the power is also being utilized by some great causes as well. MySpace is hosting 20 concerts to raise awareness and money about the humanitarian crisis in Sudan, Billboard reports today. Meanwhile, the Wall Street Journal reports that the United Nations has enlisted a variety of web video stars, including YouTube's (in)famous LonelyGirl15, to star in videos for their anti-poverty campaign. It's nice to see MySpace and YouTube being used for more than just marketing to sell items, but to "sell" important ideas too.

Tower Records Liquidated, Stores to Close

The Chicago Sun-Times reports that Tower Records stores are to close, as three thousand employees of Tower Records are to lose their jobs as the company is immediately liquidated. The winning bidder, Great American Group, paid 134.3 million dollars, and about 15 million more were sold off through leases and properties. As of right now, no official word on the Tower Records website. Although the second place bidder, Trans World, appealed, saying they hoped to keep some stores open if they won, GAG won out. The liquidation will take about six weeks, so go pay your respects at your local store and buy some cds at a discount.

Album Art War

What if all the record albums got into a war? If you've ever wondered that, and even if you haven't, this YouTube video is for you.

MySpace is good, but you still need a record deal

The Chicago Tribune's RedEye reports this week on why MySpace is replacing traditional record label deals in the minds of new artists. They point out, however, that selling your music on your own through MySpace leaves you as the artists with all the work - no publicist, no marketer, no connections. The long and short of it is that MySpace is a great way to get a buzz going so you can take it to the next level and get that record label to sign you.

Have your latte and music too!

Starbucks, long a leader in bringing music into their business, has now paired with iTunes. The iTunes store will now feature a Starbucks-branded area featuring music from the Starbucks Hear series.

XM Radio, FCC Clash Again

The latest casualty is board member George Haywood, who steps down this week amid more regulatory trouble revelations. XM Radio has been pumping up the music at more than 200 antennas to an illegally high power. Better turn that music down, and fast guys!

Microsoft and MTV Team Up For Youth Technology Study

We’re used to being asked how we use technology such as instant messaging, text messaging, digital music, ringtones, social networking websites and iPods; now, MTV wants to know how that use affects your daily life. They are joining with Microsoft to produce a study about the future of technology. The study will track youth in countries all over the world, and analyze data according to factors such as gender and generational differences.