Tuesday’s Music Briefing: Friendster, Cassettes, RIAA Mistrial & More

HYPEBOT FEATURES:

• The Orchard Adds Sony/ATV Masters
• New Study: Don’t Forget The Lyrics
• Music Social Network Kerchoonz.com Gets $490K
• EMI Retreats From China & Most Of Asia
• 5 Unlikely Music Industry Heroes

> Social networking site Friendster has close another round of funding netting $20M and announced that it will focus on Asia to drive growth. (paidContent)

> Whatever happened to cassettes? (NWA News)

> "The federal judge who presided over the nation’s only peer-to-peer copyright-infringement trial announced from the bench here Monday that he is likely to declare a mistrial." (Wired)

> How not to promote your band: fake BitTorrent leaks. (cNet)

> Universal Republic Records will distribute Ironworks Music, an imprint includes actor/producer Kiefer Sutherland and singer/songwriter/producer Jude Cole among its founding partners. The label describes itself as a ‘full facility entertainment company with an emphasis on ‘music community’ and featuring a recording label, studio, and publishing company.’ The Ironwork roster includes artists’ Rocco DeLuca, Billy Boy on Poison, and honeyhoney. (press release)

> A somewhat embattled Napster will release the first quarter earnings for 2009 on Monday, August 11.  A conference call will be held at 5:00 pm ET lead by CEO Chris Gorog and Interim CFO Suzanne Colvin. Join in by dialing 800-366-3964 or 303-262-2075.  A live webcast will also be available at investor.napster.com.