Reborn since 1993

Chapter 1326 Momentum Formed
As one of the world's most renowned and influential music magazines, Rolling Stone's assessment of Warner Music's decision to open its copyright library to Himalaya Music is spot-on.

As the saying goes, "the onlooker sees most of the game." As a link in the record industry chain, yet independent of the record industry itself, music magazines have a clear view of the state of the record industry.

"As precarious as a pile of eggs" is an adjective used to describe the record industry; one more step and it would be utter ruin.

Anyone familiar with the state of the record industry understands that the traditional record industry is no longer viable. The influence of internet music piracy is far greater than that of traditional record vendors; it is a devastating blow.

Warner Music's decision to partner with Himalaya FM, which supports legitimate content, and to license its copyright library to Himalaya FM marks the beginning of the traditional record industry's transformation towards the internet!
As soon as this news came out, Feiyan Technology's stock price soared. Previously, Feiyan Technology's stock price had already surged due to the release of Feiyan 2nd generation MP3 players.

Now it's an internet music platform under Feiyan Technology, and it has the potential to become the world's largest legal music website!

This news spurred Feiyan Technology to officially launch its assault on the $30 billion market capitalization mark!
"This is a small step for Himalayan music, but a giant leap for global music!"

At the strategic cooperation press conference held by Himalaya Music and Warner Music, Tang Jun spoke confidently to the media and reporters present.

"I have reached an agreement with President Roger Ames that Himalaya Music will work with Warner Music, as well as more record companies, associations, and record industry professionals, to promote the 'Music Modernization Act'!"
We hope this bill will be a comprehensive solution to the issues of digital copyright and licensing in the internet age!
This bill aims to protect record companies, industry professionals, and consumers, ensuring the survival of the record industry in the internet age and making those who disrupt order pay the price!

When Tang Jun loudly proclaimed that Himalaya Music would be implementing a music modernization bill, it drew gasps from the audience at the press conference.

At this moment, Tang Jun has undoubtedly reached the peak of his career. He has won over record giants and promoted music legislation, which is already the ceiling level of a professional manager.

Expecting Himalaya Music to pass the music modernization bill on Capitol Hill on its own is nothing short of boasting without any basis.

Ultimately, this bill will likely require a joint effort from several major record labels to push it through Capitol Hill.

However, this did not prevent Himalaya Music from getting Tang Jun's name on the bill, and Warner Music tacitly agreed to let Himalaya Music come forward to propose this bill.

After all, Himalaya Music is an internet music website. If Himalaya Music brought this up, it's an internal matter within the internet industry, not some kind of suppression of the internet by record giants like Warner Music.

Regardless of how this bill passes through both houses of Congress and Capitol Hill, and is signed by the President, as long as it passes, it will be equivalent to reshaping the order of the American music market, and could even be said to have re-established the rules of the global music market!
Similarly, as the first person to advocate for the modernization of music, Tang Jun may also be remembered in global music history, and his name may appear in music history in the future.

At this moment, Tang Jun's fame in Silicon Valley and the music industry reached its peak.

If I had to describe it in one word, it would be: he really pulled it off!
……

"A music modernization bill?!"

"Himalaya Music has a really big appetite!"

Himalaya Music's acquisition of Warner Music's copyright library and its push for a music modernization bill quickly became headline news in the American internet industry.

Even Yahoo was surprised by the sheer scale of Himalaya Music's investment. After all, Yahoo, the current global internet giant, hasn't even announced any internet legislation yet.

Yahoo CEO Greg Gurney, watching Tang Jun looking triumphant on television, couldn't help but feel a pang of envy.

Speaking of which, as the head of a giant company whose market value has now exceeded $794 billion and is only one step away from breaking the $80 billion mark, Kuger felt that he was not as good at showing off as Tang Jun.

Judging from media footage alone, someone unfamiliar with the industry might think Tang Jun is the current leader of the internet industry!
After the start of 1999, Yahoo's market value skyrocketed every month, and in January, it had just surpassed $70 billion.

But by February, Yahoo's market value had increased by nearly $10 billion in a single month, and it's estimated that it will break the $80 billion mark in the next few days.

Once Yahoo surpasses a market capitalization of $80 billion, its next step will be to aim for a market capitalization of $100 billion, challenging the record for the most valuable internet company in human history!
The entire Wall Street, Silicon Valley venture capitalists, and investors around the world are witnessing that day arrive.

Despite the many pessimists, those rumors could not stop Yahoo's market value from soaring.

Originally, Yahoo attracted the attention and focus of the entire internet industry, with everyone watching Yahoo's crazy show.

Unexpectedly, Himalaya Music jumped out and stole the spotlight.

"Himalaya Music has really succeeded!"

After Kug's words, Yang Zhiyuan, who was the spiritual leader of the outside world, couldn't help but shake his head and said with a hint of envy and regret in his tone.

When internet music first emerged, Yahoo took notice and even considered entering the industry, but ultimately abandoned the idea due to the high risks involved.

But unexpectedly, there are websites as audacious as Napster, which really fleece people and almost bankrupt several major record labels.

Now that Himalaya Music has acquired the music copyright library, Yang Zhiyuan knows that Himalaya Music's momentum to become the world's largest legal music website is truly on track. "If nothing unexpected happens, the other major record labels will also have to join forces with Himalaya Music!"

Yang Zhiyuan asserted that Warner Music had made its choice, and the other major record labels would likely join forces with Himalaya Music as well.

In particular, Tang Jun and Himalaya Music have both taken up the banner of the Music Modernization Act, and the other major record companies have no choice but to support Himalaya Music unless they are tired of living.

"Should Yahoo launch a music channel!?"

Kug is somewhat envious of Himalaya Music's soaring traffic. For Yahoo, nothing else matters, but traffic and market value are things they can't ignore.

"It's too late, and besides, Himalaya Music has Feiyan MP3 users as paying subscribers, while Yahoo doesn't have those users!"

Yang Zhiyuan's words dispelled Kuger's idea. He also knew that, as Yang Zhiyuan said, if Yahoo rushed in at this time, it would at most only get some scraps.

"It would be great if we could acquire Himalaya Music!"

A Yahoo executive couldn't help but say, but he was just venting. How could Feiyan Technology possibly hand over an industry like Himalaya Music, which clearly has the potential to become a company with over 100 million users, to an internet giant?

Moreover, Feiyan Technology is currently the second largest internet giant on Nasdaq, and one of the few profitable internet companies among Nasdaq's internet concept stocks.

Feiyan Technology's revenue is much higher than Yahoo's. After all, even if Yahoo's revenue doubles this year compared to last year, it will only earn about $500 million.

That's right, Yahoo aims to use $500 million in revenue to support a market capitalization of $100 billion. That's the madness of the internet.

Feiyan Technology, relying solely on selling Feiyan MP3 players, already surpasses Yahoo in revenue and profit. Not to mention that Feiyan Technology also has profitable businesses such as mini radios and car audio systems.

How could Feiyan Technology, with its such capabilities, possibly sell Himalaya Music?

But what was said in jest was taken seriously by the listener. Yang Zhiyuan and Kug exchanged a glance, both revealing a meaningful look in their eyes.

Whether Feiyan Technology will sell Himalaya Music or not, Yahoo doesn't know, but can't we at least ask?

For Yahoo, there was nothing lacking except money. If it wanted to acquire a company, it only needed to issue a batch of stock. At that time, Yahoo's stock was pegged to the US dollar.

Furthermore, if Yahoo can't acquire Himalaya Music, could it buy some of Himalaya Music's shares and ride the wave of the internet music craze?

Don't forget, Feiyan Technology and Yahoo are "brother" companies that hold shares in each other. Since they are brother companies, is it too much for them to invest in each other's companies?
……

"Himalaya Music is trying to kill Napster!"

"This is malicious competition! The Music Modernization Act is targeting Napster!"

"We absolutely cannot sit idly by and wait to die!"

As a Silicon Valley unicorn, Napster, whose valuation has just exceeded $36 billion, is currently in a state of panic and even fear.

Warner Music's alliance with Himalaya Music, and Himalaya Music's sudden move to target Napster, shifted the entire record industry's direction, creating a sense of crisis for Napster.

As Napster founders, Fanning and Parker could sense the fear and unease of the executives as they listened to their angry outbursts against Himalaya Music.

The convergence of traditional record labels and online music platforms is certainly not good news for Napster, and may even affect Napster's IPO plans, which have just begun.

The release of the Flying Goose 2nd Generation MP3 player, to a certain extent, brought Napster to its peak since its inception.

After all, MP3 users are potential Napster users, and everyone knows that. So after the release of the Flying Goose 2, Napster's valuation began to soar.

Fanning and Parker never expected that Himalaya Music and Warner Music would complete a landmark collaboration and then start targeting Napster. They knew all too well who the so-called Music Modernization Act was targeting.

Before Fan Ning and the other person could speak, Napster's CFO, looking extremely grim, hurried over and whispered something in their ear.

These words shocked Fanning and Parker, who exclaimed in disbelief, "What did you say? Pacific Rim Ventures transferred all of its Napster shares?!"

(End of this chapter)