Music News 8.14.17

SoundCheck

Music News 8.14.17

Posted by on Aug 14, 2017

Old Settler’s Fest Set to Settle Elsewhere

After 15 years at the Salt Lick BBQ pavilion, the renowned Old Settler’s Music Fest is tying up its stakes and moving to its new home a year earlier than expected. The festival has been held at the Salt Lick BBQ pavilion (located about 20 miles southwest of downtown) since 2002, and though they knew Old Settler’s would have to find a new location by 2019, festival organizers received word from Salt Lick owner Scott Roberts last Tuesday that Old Settler’s will indeed need a new home in 2018 instead. In the letter, Roberts expressed his disinterest in disrupting neighbors moving into the new developments popping up in the surrounding Driftwood area.

Old Settler’s has already found a new home, 145 acres perfect for the future of the festival and effectively doubling its space. The land is located in Dale, Texas about 10 miles east of Lockhart. The challenge now is getting the grounds festival-ready by next April.

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Update on SoundCloud’s Financial Situation

Last month, we covered the story of SoundCloud’s impending doom as rumors leaked that the company had only enough fiscal integrity to survive less than two months.

The online music-hosting platform landed a gracious, to say the least, financing round last Friday, funding the company with $170 million from two firms, merchant bank firm the Raine Group, which hold stakes in entities such as Vice media c3 Presents, and Temesek Holdings, a state-run Singaporean holding company.

Management of SoundCloud is also shifting, as co-founder Alex Ljung steps down as CEO as former Vimeo CEO Kerry Trainor steps into the seat. Trainor brings former Vimeo COO Mark Weissman to fill in the same seat at SoundCloud. Ljung will stay with the company as a board member. So rappers, bedroom producers, or SoundCloud lurkers out there, bot to worry, your orange-colored rabbit hole won’t be getting plugged any time soon.

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-Taylor Wallace