Just when you thought the online music streaming space couldn’t get any more crowded or competitive, along comes Deezer. The French company already boasts 5 million paying subscribers in 80 countries and now plans to launch in the United States, where Spotify and Pandora are the market leaders. However, none of these companies are actually profitable, which may be why services like Rdio went through a round of layoffs in November and Turtable.fm is shuttering.
Profitability seems to be an issue for Sony Pictures too. The movie studio lost $181 million last quarter leading to the announcement of significant cost cutting measures in the wake of some summer box office duds.
Disappointing earnings and a declining subscriber base are also a problem at Time Warner Cable. As telcos and satellite providers continue to erode their market share, rumors have begun swirling that the second largest cable operator in North America might be acquired by one or more of its competitors, including Comcast.
Of course, we also cover the week’s top entertainment news stories including the Thanksgiving weekend’s record breaking box office, “Spider-Man: Turn Off The Dark” lowers the curtains on its Broadway run and the mediocre sales figures of Lady Gaga’s latest album.