Posts made in March, 2016

on Mar 30, 2016

By Justin Pearse The Drum has partnered with Havas Media to launch a campaign to find the most meaningful brand. A reader poll, launched today, will help decide the winner of a new category in The Drum Marketing Awards set up to celebrate brands that are viewed by consumers as improving their quality of life. The shortlist for the Meaningful Brand of the Year award was drawn up using data from Havas Media Group’s Meaningful Brand Index in combination with insight from The Drum’s research and editorial teams. The shortlist for the Meaningful Brand of the Year Award includes Read full story › Source: The Drum...

on Mar 30, 2016

By Jeremy Lee It’s very easy to criticise Sir Martin Sorrell and his eye-watering salary. It’s very easy and it’s also absolutely right. Given that the wider industry has made great advances in showing that it is a ‘force for good’ (although its soul searching, if not its action, over diversity looks like it will continue for some time), Sorrell’s estimated £70m 2016 pay cheque is in danger of putting this good work back further. Sorrell’s defenders quite rightly point out that his remuneration scheme is based on tough targets that are dependent on the growth of the company. And few can dispute that Read full story › Source: The Drum...

on Mar 30, 2016

By John Glenday The competitive subscription streaming music sector has just got a little bit more congested following a decision by SoundCloud to launch a $9.99 per month offer with a catalogue of 125m tracks. Initially launching in the US only the new service will seek to get one over on established rivals by dint of the sheer size of its catalogue, some four times greater than that offered by Apple Music and Spotify. SoundCloud co-founder Eric Wahlforss told the Guardian: “We’re going to have over 125m tracks on the platform– a lot of emerging and indie artists, major artists and also DJs, remixers and Read full story › Source: The Drum...

on Mar 30, 2016

By Ronan Shields Spotify has raised $1bn in convertible debt according to reports as competition in the online music streaming sector heats up. The Wall Street Journal yesterday (29 March) reported that the online music-streaming service raised the funding round from investors including private equity firm TPG, hedge fund Dragoneer, plus Goldman Sachs clients, citing sources close to the deal. Spotify has since confirmed the deal, with the financial services title additionally reporting the terms of the financing round mean that investors will be able to convert the debt into equity at a 20 per cent discount should the Sweden-based company make an Read full story › Source: The Drum...

on Mar 30, 2016

By John Glenday Amidst an ongoing tax row enveloping Google’s financial affairs a fresh spotlight has been shone on the bumper pay packets enjoyed by the technology firms top brass, not least of which is Sundar Pichai who pocketed an impressive $300m in stock and pay over the course of 2015. According to City AM Pichai remuneration took the form of $99.8m in equity, released following his promotion in August, alongside a hefty $199m worth of stock. Set against those figures Pichai’s actual salary of $652,500 seems quite miserly. This windfall has propelled Pinchai to become the highest paid employee at Alphabet, Google’s parent, who Read full story › Source: The Drum...