The state of the economy may be a big question mark but one thing’s for sure: L.A. tech is hot. Westwood-based Elevator Labs received $20 million in funding this week in another example of investors putting money into innovative Los Angeles-based startups (just last week Santa Monica-based BetterWorks received an $8 million investment).
Strong sales of new releases from the top ladies in song and multiple reissues of classic albums made the first half of 2011 the best 6 months for album sales since 2004, according to Nielsen SoundScan.
The one percent increase in sales is little more than a tiny bright spot for an industry which has gone into a tailspin over the past decade. The major labels failed to capitalize on emerging digital distribution models early on and do not look to be in a position to recover any time soon.
Photo from an in-class exercise at a Tiziano Project workshop on the San Carlos Apache Reservation in Arizona this week.
A Los Angeles-based startup with a mission to enable multimedia storytelling in communities worldwide that otherwise lack necessary resources and training was awarded a $200,000 grant by the Knight Foundation on Wednesday.