Nicolas Jaar and his guitarist Dave Harrington often collaborate under the moniker DARKSIDE, but yesterday the duo released a new pet project under the name DAFTSIDE, in honor of their brand new remix of DAFT PUNK’s Random Access Memories. It’s a great listen from beginning to end, except for the disastrous “Contact” which I tried to remove from the embedding pack below, but couldn’t. You’ll have to make contact with that fast forward button yourself in order to get to the good stuff.
I’m not certain how much cash DAFT PUNK made off Random Access Memories, but I’m imagining it was a bundle. Nowhere near as much, however, as Sean “Diddy” Combs is about to rake in from a recent carriage deal he signed with Time Warner Cable. Combs, whose current net worth is pegged around $580 million, made the announcement recently that he is launching his own cable TV network called REVOLT TV, “dedicated to the creators of this generation.” Styled as a freshly updated MTV for the Millennial generation. “Since MTV stopped playing music videos, it’s left this gaping hole and an opportunity to create not just a network or a channel but an audience company,” Combs tells Forbes by telephone from France. “That’s what I like to call REVOLT: an audience company that specializes in Millennials. And the number one thing that Millennials like is music, and the number one thing I specialize in is music.”
In a feature story published this morning in Forbes, speculation is that the cable deal will send Combs into the billionaire’s club in approximately three years. “Turning a profit may prove difficult in the early going, but a well-oiled network can generate margins in excess of 25%. So, some back-of-the-envelope math: say REVOLT manages $4 per subscriber per year. That works out to $100 million in sales, and perhaps $25 million in profit. Apply a 15x earnings multiple, and you get a valuation of $375 million for the network. Diddy wouldn’t disclose the precise nature of his stake, saying only that it was more than half. Even if it’s 51%, he’s looking at a potential net worth bump of nearly $200 million on paper when REVOLT goes live. If he doubles his subscriber base over the next few years, the math says he’ll be a billionaire.” You can read the full story at Forbes.com, and enter the mother ship at REVOLT.tv.