We have been closely following – first Gibson Guitar and then Gibson Brands – from their decision in 2012 to shoot for the stars by using OPM (other people’s money) to make highly leveraged…and highly questionable…acquisitions of various consumer electronics brands (a category in which the CEO and his team had no experience) to their recent 2018 bankruptcy. Gibson was trying to diversify their musical instrument business into something that now former CEO Henry Juszkiewicz called a music lifestyle brand. Instead, they wound up in bankruptcy.
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Who Launched New Experience Centers Yesterday?
Yesterday, a major manufacturer who is very influential in the industry announced it was launching a series of “Experience Centers” across the country to help promote its brand. Perhaps you think I’m referring to Control4, who did announce such a program yesterday in partnership with 140 integrators around the country. But no, I’m referring to Amazon.com, who has partnered with one of the largest home builders in this country – Lennar – to build Amazon Experience Centers all around the U.S.
See more on this Amazon and Lennar program… [Read more…] about Who Launched New Experience Centers Yesterday?
Tidal Accused of Manipulating Stream Counts
Changed Data Favors Payouts to Two Owners of the Service
A report by Rolling Stone magazine says that Tidal, the troubled streaming service owned by rapper Jay Z and a consortium of music industry personalities, has been accused of faking their data, manipulating stream counts to artificially boost figures for certain Beyoncé and Kanye West projects. Although Tidal denies the reports, some of the facts being reported are indeed troubling.
See more on the accusations against Tidal… [Read more…] about Tidal Accused of Manipulating Stream Counts
3 Out of 4 Say the Customer Experience You Deliver is Essential
Question: Think about 100 of your best customers. If that group of 100 good, loyal customers had one bad experience with your company, how many of them do you think you would lose? A couple? Maybe 10%? You will find the answer to this question, based on a new research from PwC, at the end of this post.
Have you ever stopped and considered just exactly what is it like for your customers or clients to do business with your company? You might want to think about that very deeply, as new research from PwC shows that three out of four Americans say that the customer experience is a critical factor in their decision to do business with you (or to continue to do business with you)…and this is a global phenomenon, according to the survey’s findings.
See key takeaways from this important research on your customers… [Read more…] about 3 Out of 4 Say the Customer Experience You Deliver is Essential
Best Buy Rebranding Reverses Historic Course
Best Buy has launched a corporate rebranding that is both sweeping in style and represents a shocking reversal of course, undoing much of its original mission that was created when founder Dick Schulze, President Brad Anderson and crew launched an entirely new store concept known as “Concept II.” Concept II was a reinvention of their formerly more traditional superstore design to a new warehouse style discount store designed to deliver the “Best Buy” on all things tech. This new branding change is to such a significant degree that even Advertising Age Magazine (AdAge) devoted significant space to an analysis of it.
See more on this surprising reversal of the genesis of Best Buy’s founding concept… [Read more…] about Best Buy Rebranding Reverses Historic Course
Amazon Echo Market Share is Slipping
In a new analysis by eMarketer, we learn that Google has made significant inroads into the smart speaker market, causing Amazon’s Echo to begin to lose market share. So far, they remain the number one smart speaker, but projections show continued erosion, as consumers are embracing Google’s, as well as other’s, smart speaker options on the market.
See more on this early but meaningful research on Amazon’s declining share… [Read more…] about Amazon Echo Market Share is Slipping
Leon Acquires Terra Speakers, Expanding Assortment
Leon Speakers announced this week that it has acquired Terra Speakers in a transaction that is said to offer Leon a greatly expanded portfolio of high performance products targeted for the outdoor and commercial segments. The company says this acquisition provides “new residential and commercial business opportunities” with a company renown for rugged, all-weather outdoor speakers.
See more on this Leon and Terra transaction… [Read more…] about Leon Acquires Terra Speakers, Expanding Assortment
Docs Show Gibson Bankruptcy Bigger Than You Think
Founded in 1894, it is a mark of their long-term brand success that Gibson has become such a large and far-flung international organization. In a cursory review of documents submitted to the court as part of their bankruptcy filing shows, legendary performers such as Muddy Waters, BB King, Elvis Presley, Pete Townsend, Keith Richards, Duane Allman, Elvis Costello, Lenny Kravitz, Slash, Dave Grohl, Joe Bonamassa all used various Gibson products that, in some cases, became a signature of that performer. And yes, the bankruptcy filing promotes these iconic names.
But from these Gibson filings, we’ve learned so much more… [Read more…] about Docs Show Gibson Bankruptcy Bigger Than You Think
Gibson Brands Files for Bankruptcy
BREAKING NEWS
Filing Pre-Negotiated with Bondholders, CEO & Pres Stay thru Transition
Gibson Brands Inc. announced today that it has filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. Chapter 11 denotes the company plans a reorganization and the company says it has reached an agreement with certain existing bondholders called a “Restructuring Support Agreement.” This agreement is with holders of more than 69.0% of the debt due in 2018
See more on this anticipated development… [Read more…] about Gibson Brands Files for Bankruptcy
Sonos Quietly Prepares for Public Offering in June
The Wall Street Journal is reporting that wireless music system maker Sonos is getting ready for the big time by planning an initial public offering. According to the report, the IPO could happen as soon as this July…or even June.
