Warners, Beggars Team On Gig Stream Service

Billboard.biz has learned that a group of industry giants, including Warner Music Entertainment (WME), Warner Music International's video-production arm, is to launch a U.K. Internet-delivered TV service devoted to live concerts. Called the Lovelive Channel and scheduled to launch this year, the service is being jointly developed with U.K. independent-labels company Beggars Group, live-music organizer Mama Group, and the online-video developer Perform Group. (Billboard)

Mama Group records £2m profit

Mama Group, the expanding live venue and artist management company, was expected to announce profits of more than £2 million, demonstrating that the music industry can still generate value. Final-year figures, up to August last year, are expected to show that turnover increased by 39 per cent, while group revenues for the period totalled £12.2million. Profit before exceptional items and depreciation for the year amounted to £2.14million, compared with a restated loss of £129,000 for the previous year. (The Times)