|
MusicMaker meets Undertaker
MusicMaker.com has announced plans to liquidate itself, citing the limited amount of investment available to the digital music industry.
Like others in the digital music industry the companies stock sank over the past 7 months to around $2.88 a share, from a high of $281.25 on the day of it's initial public offering on the stock market in July of 1999.
EMI, who sold their stake in the company last month, seems to have made a wise move. It is not certain however if this move was additionally responsible for sealing the fate of MusicMaker however, at least in the minds of investors.
The company was one of the first digital music companies to attempt to reach licensing agreements with the major label recording companies. It's failure to due so ultimately caused the demise of the company.
User Comments
(These do not necessarily reflect the beliefs of this site)
|
homogenuity
|
Date: January 4, 2001 @ 12:39 PM
$281.25 down to $2.88.
just shows you that investors don't actually have the wellbeing of a company in mind when they invest.
which is sort of dangerous to anyone seeking venture capital, when you think about it.
i mean, there are people putting a lot of though, and hard work into some of these ventures, but on the market, they're nothing but commodities.
i suppose the flipside is that there are also probably those out just trying to cash in on the gullibility of investors.
which was musicmaker? |
|
p0ppe
|
Date: January 4, 2001 @ 3:14 PM
Musicmaker's businessidea just didn't work. Who would like to buy custom made cds when all you need to make them yourself is a cd-burner? |
|
doobybrain
|
Date: January 4, 2001 @ 5:24 PM
it sucks that this company fell mainly because it could not reach an agreement with the record labels. why cant the record labels agree with the changing ways? it'd make everything much more easy-going.
[doobybrain] |
|
doobybrain
|
Date: January 4, 2001 @ 5:25 PM
thats true. although some might find it easier (and probably cheaper) if they didnt own a burner.
but i'd recommend they get one anyway, lots more other uses. :)
[doobybrain] |
|
itirep
|
Date: January 4, 2001 @ 6:08 PM
the record companies knew just what they were doing when they refused to get involved with musicmaker.they dont want to share music revenues with anyone-not even the developers of new music technology.they want it all-and it's this all or nothing attitude that will eventually cause the demise of the recording industry as we know it now...mp3 and internet distribution are way too big a force...eventually all major artists are going to smarten up and do what Prince and a few others have done-tell the recording industry to go fuck themselves and release their music via the internet ONLY.
itirep- http://escape.to/itirep1
just bring it
|
|
|
Navigation
