SoundCloud To Stay Open Thanks to Hail Mary $170M Investment

On a week where the future of SoundCloud once again seemed uncertain, a new injection of cash seems to be the only thing keeping the beleaguered streaming giant alive.

The Hail Mary deal, reported by Vanity’s Senior Silicon Valley Correspondent, aims to safeguard the company’s financial survival and give it a fighting chance to pay down its debt. The deal sees the music platform receive nearly $170 million from the Raine Group and Singapore’s Temasek but comes with some serious sacrifices for existing investors.

Axios, who were the first to report on the new and needed cash infusion yesterday morning, also reported that some existing institutional investors will also participate in the new funding, which is set to close today.

The deal sees the new investors secure 50% of the company, with common shareholders including early employees coming out as the losers of the entire situation here. A source has reported to Variety that the latter will only receive 17% of any exit proceeds that exceed the new investment, plus the $70 million the company raised from Twitter in 2016. What does this mean exactly? Simply put, unless SoundCloud sells for more than $240 million at some point in the future some investors will be walking out with nothing.

Although the deal is not finalized yet, with shareholders needing to approve all its details still, it is expected to be a practical “done deal” with confirmation to arrive at some point today.

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808 Day: Roland Announces “Ultra-Compact” Version of the TR-808

Happy 808 Day!

And it is certainly fitting that Roland has added two key items to its Boutique range today, with additions of both the TR-08 and SH-01A.

The Japanese manufacturer’s intention is to provide a more versatile version of the TR-808 for users looking for a drum machine that is more compact while maintaining the same sound characteristics that have made it such an iconic piece of hardware for the last three decades. On their site they state that the product “retains the sound, character, and user interface of the original TR-808.”

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SoundCloud Allegedly Doesn’t Have Enough Money To Survive Past 80 Days

Reports have begun surfacing that SoundCloud may truly be on its last leg.

Truth be told, things haven’t looked well for the streaming company for the entirety of 2017. Despite still being hugely popular and ahead of its competitors as far as some of its offerings go, the company has had financial problems for years now and they have only been getting worse. This resulted in 40 percent of its staff getting laid off last week and statements from its founders that it may not have enough money to see it through the year.

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Solarstone Debuts Dolby Atmos Music Experience at Sound-Bar Chicago

Dolby Laboratories, Inc. has announced that its Dolby Atmos music entertainment experience will make its debut at Chicago’s Sound-Bar nightclub. The Dolby Atmos residency at Sound-Bar will launch on July 29, 2017 with Trance and Progressive producer/DJ Solarstone, real name Richard Mowatt, performing.

“Dolby Atmos gives artists the ability to create multi-dimensional soundscapes that deliver an electrifying experience to club goers,” said Bob Borchers, Chief Marketing Officer and Senior Vice President of Dolby Laboratories. “We’re excited to bring this spectacular experience to music fans in Chicago.”

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The Last Ever Emerson Moog Modular System Will Cost $150,000

The last ever Emerson Moog Modular system is currently being built at Moog headquarters, and will be shown off to the general public at the Sweetwater Gearfest on June 23rd before going on sale for $150,000.

The Emerson Moog Modular System was originally built by Dr. Robert Moog himself in collaboration with famed inventor and composer Keith Emerson. The original took many years to build, and was regarded by experts as the ultimate modular system ever produced. The Moog company worked on building more since, finishing one before this third and last one being worked on right now.

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Sci+Tec’s Johnny Trika Performs Live from His Studio and Discusses His Setup

Dubbed as one of SCI+TEC’s ‘next generation’ and counting names like Dubfire and Richie Hawtin amongst his ever-growing list of high profile supporters, Johnny Trika is a producer who has been hotly tipped since his first release in 2014. Backed by a weighty discography on SCI-TEC, May 2017 has seen him once again putting his mark on the industry with a brand new EP and a US/Canadian tour – delivered in a one-two punch that’ll leave people talking right through the summer.

As a producer who pursues quality over quantity, a new Johnny Trika release is something to get excited about, and the Fast Life EP on Oneself is no different. Release at the end of May, the EP features two brand new original productions from Johnny, backed up by a razor-sharp remix from Maksim Dark. The title track brings together a rolling bassline with warped, chopped up vocals and delivers a dark, progressive weapon that’s been tried and tested in Johnny’s sets for a while now. On the other hand, Dreamless King takes on a more ethereal approach to techno with an almost dream-like quality in the synths – a layered but considered sound that retains Johnny’s inimitable weighty bassline and drums.

Yesteday we hosted Johnny on our Facebook page where he performed LIVE from his studio. Admittedly there were some connectivity issues but his impressive work as a live act can still be watched, and more importantly listened to, regardless. Watch the video below and read on for our interview with the producer where he explains his vision for his Live shows as well as his setup:

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Behind the Fake News: The mp3 Is NOT Dead, It’s More Alive Than Ever

In the past few weeks you have likely read several articles, or at least headlines, proclaiming that the mp3 format is dead or will die soon. Some of these even came from authoritative sources in terms of music and technology, leading many to blindly believe that the death of mp3 was in fact real, and leaving many others to wonder what would happen as a result.

Resident Advisor stated that the “era of mp3 is over,” while those at Fossbytes announced that the “mp3 format is officially dead,”  and elsewhere at Gizmodo they announced that “developers of mp3 have officially killed it.” All these headlines, just like the countless others who followed suit with the hasty announcement, rushed to declare the death of the most popular audio compression format in circulation without examining all the facts. Interestingly enough it appears that they all regurgitated the same sensationalistic headline without properly reading the original statement of the Fraunhofer Institute and, above all, without confronting it against the sheer reality of the mp3’s role in today’s technologic world.

First of all, let’s examine what really happened: the only recent news, if we can really call it such since it’s been known for years, is that the latest American patents related to the mp3 format expired on April 16th, while in Europe they had all expired by the end of 2012. A few days later, on the 23rd of April, the Fraunhofer Institute, the former patent holder, published an official press release according to which the license for the mp3 format will be closed as the institute focuses its efforts on the AAC format.

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Technics Unveils Plan to Launch New Budget SL-1200 Turntables for $134.99

The Technics 1200 has long been revered by DJs for its high-torque, direct-drive platter that ensures flawless mixes and incredibly precise scratch performances. Until last year, the latest version of the turntable, the MK6, had been released in Japan back in 2008. Then in January 2016, the brand owned by CES, Panasonic announced it had revived the turntable with the new Grand Class Technics SL-1200G and limited edition Grand Class SL-1200GAE.

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Software and Accessories for the Budget-Conscious Producer/DJ

Are you interested in being a producer/DJ? Prepare to buy software and equipment which will help you learn and hone your skills in being one. Admittedly, these software and equipment can be very expensive, and at times incredibly so.

If you’re on a tight budget, do not fret. There are actually a number of great alternatives available at a lower price. In some cases, you can even get them for free. Today, we shall looking at some of these affordable alternatives that will help you get started as a producer or DJ.

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Wheel: A Record Player Without Needle

A record player without needle? It’s 2017 and it seems like even that is possible, as Wheel introduces a minimalistic record player devoid of an external needle arm.

Truth be told, the Wheel player that is being manufactured by Miniot doesn’t look much like a record player at all. Its simplistic approach means that there are no extremities or components beside the base the record sits on.

How does the record play then? Wheel has explained that the vinyl is able to be played thanks to an “invisible” needle that sits below the record, allowing for the vinyl to be exposed with no obstruction. The Wheel can also be hung vertically on a wall as decoration, and can be played while in this position also.

The Wheel will retail for a not-so-modest price of $850 / £806, although those backing the Kickstarter campaign can benefit from a 30% discount. Nearly $160,000 has been pledged thus far, surpassing the original $53,000 goal by leaps and bounds.

 

 

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