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"if you believe some people on this bb"
I don't.
Looks like you're correct Wayne. No surprises we didn't get a sniff, but still, FFS.
"Filmed across the Worthy Farm site at landmarks including the Pyramid Field and the Stone Circle, the livestream is being staged in partnership with Driift and BBC Studios Productions. Although no BBC broadcast partnership has been confirmed, Glastonbury has been a fixture of the schedules in recent years so it seems likely that performances will also be screened on TV at some point. "
https://www.musicweek.com/live/read/glastonbury-to-stage-livestream-featuring-coldplay-kano-haim-idles-and-more/082948
https://www.bbc.co.uk/mediacentre/latestnews/2017/bbc-music-six-year-partnership-glastonbury
Smart money is on the BBC...
My concern is that they do now have video capability built in to the app. Some of the podcasts they're paying big money for, the Joe Rogan Experience for example, also have video as standard. It wouldn't be a massive leap for them to move in to concerts and compromise another first mover advantage we theoretically have.
'Upcoming virtual events picked for you... find more streaming events on Spotify Concerts'.
Oh. Excellent.
Not particularly I'm afraid. How the CEO is still in a job is beyond me. It doesn't say much for the rest of the Board either. He's marking his own homework at the moment and awarding himself an 'A', despite all evidence to the contrary.
"They HAVE TO look into this"
Maybe at some point, but definitely not now. Given Melody's record of chasing a whizzy new technology and then completely failing to monetise it, I can't think of a worse thing for them to be spending time on right now. This year I just want to see an app that works, delivered on time and on budget, which combines the Napster and Melody offerings in to a coherent platform, backed by a strong marketing campaign.
Once they've delivered the app on time/on budget, without diluting us all in to irrelevance, we're generating sustainable revenue and the share price has re-rated, then look at whatever the next flavour of the month buzzwords are going to be. If that's still 'NFTs' and 'blockchain' in 18 months' time then fine. For now, let's stay the hell away from any more dream chasing and get some fundamentals in place.
Really interesting GS, thanks.
Thanks Max. Interesting to see how the company is describing itself in these things, more than anything else. Gives us a glimpse of where they're positioning themselves.
Also, it never fails to amaze me how little American businesses have to give their employees in terms of benefits and holidays etc. So different to the UK/Europe.
"are you again trying to compare naps to Spotify!"
a) I haven't ever compared Napster to Spotify, b) there is more than one music streaming service. As for 'respecting others' opinions', why would I respect the opinion of someone who repeatedly sets up new accounts to cry on here because he's lost money in a share? Grow up.
Much as it pains me to say it, I too have now bought some more of these. My average is down to just over 3p, which is much healthier than it was at least. I'm confident they're worth more in the medium-to-long term, provided some fundamental issues are addressed.
The business is undervalued compared to its peers in the streaming space, but is being held back by a consistently underperforming CEO/senior management team and that woeful fundraise. It's still the outlier in my portfolio (not in a good way), so I'm happy to let it ride until we get a set of Napster results. Let's hope I'm deciding whether to take profits, rather than writing it off as a lost cause.
Thanks bonker99 - some interesting analysis. There are worthwhile posts here once in a while, amid all of the drivel.
Today we passed the point at which I had intended to average down, but I just can't bring myself to do it yet, when we're shaving 5% - 6% off the sp each day at the minute. Your point about the new ISA year is valid, but I wonder how many people are looking at this right now and thinking 'I can't wait for April 1st, when I can sink a load more money in to it'. Although on second thoughts, perhaps April 1st is precisely the right day to be investing in this company...
I think if we get to 2.2 / 2.3 ish before the end of the month, I'll have another nibble. Mind you at the current rate, we might get there tomorrow.
"I Don't know what's going on with the company but they seem to be blind, deaf and totally silent"
This is the crux of it for me TBB. It's bad management, plain and simple. Our Board is extremely inexperienced and it shows. It's one unforced error after another and the share price demonstrates that investors just don't have confidence in these guys to deliver the goods. If I saw an experienced, credible Board with diverse, complimentary skills taking over Napster, I'd be hoovering up shares at this level. I'm just really struggling to justify putting more of my hard-earned in to backing the current lot.
Credit where it's due to you for sticking your head above the parapet and giving an honest view. I'm not going to be averaging down yet, because I think with more CLNs in the pipeline and no sign of any meaningful news in the near future, this has probably got even further to fall before it gets better. Wouldn't be at all surprised if I'm able to average down at 2p before May.
"For the last time. AM hasn't been able to run streaming concerts profitably, BECAUSE THERE HASN'T BEEN ANY !"
For the last time, there has. LiveNation has over two dozen live streamed concerts scheduled this week; same as last week and the week before that. I don't know why you're struggling to get your head around this (well, besides the obvious). Melody's most successful show to date was filmed and broadcast in 2D during the pandemic, without a crowd. You're wrong, I'm afraid.
You are however correct about the messy fundraise. It's been a shambles.
Careful Albert. You don't want to go picking up yet another ban, because you're incapable of staying on topic. The next one is likely to be permanent, by all accounts...
Presumably it's taken from the last set of results and is therefore accurate as it stands. This bit caught my eye though, in their definition of a 'sucker stock'...
"Moreover, these stocks are often small and attract scant coverage from analysts. That means their poor quality and stretched valuations may not be obvious to gullible investors. It makes them particularly vulnerable to the kind of rumour and conjecture that is rife on internet bulletin boards."
Lol, when they're right, they're right...
I was planning on averaging down around 2.5p, but I'm now thinking there's a good chance it could get even lower in the coming weeks. All the cliches about 'catching a falling knife' spring to mind, but the sp has been in free fall this last week or two.
"LN can't work"
Completely, utterly, almost impressively wrong in your very first claim. Didn't bother reading the rest as a result.
I'm 'on board' whether I like it or not as, like everyone else, I'm sitting on a paper loss. My only internal debate is whether or not I average down. I think I probably will if the next CLN RNS walks the share price down a bit further.
"I can assure you all"
You'll forgive me if I don't believe a single word of your 'assurances', KoK, given your recent record when it comes to 'trust me' predictions. They aren't worth the air in to which they are uttered.
Still, the general behaviour and discussion has been much more constructive on the board since the Napster move (and since the mods dished out another ban or two), so let's not slip back in to the old ways eh? I'm very much of the opinion that Melody has completely wasted the opportunity presented by the pandemic, but to an extent the Napster acquisition has rendered that somewhat moot. It isn't the same business it was six months ago.