Avid, makers of Pro Tools, Media Composer, Sibelius, and other products was on Tuesday suspended from being traded on the NASDAQ stock exchange because of a failure to issue timely financial statements. And the company by the admission of its own chief executive faces a changing industry.
However, our earlier report included inaccurate information from financial analysis site The Street. Their report included outdated financial data. Our reporting was not correct; we have since spoken to Avid.
The Street reporting (and thus ours, in building a report on it) was inaccurate and misleading in that financial data for Avid actually isn’t available. That’s the sole reason for the NASDAQ delisting. The company went into further detail on Wednesday in a pre-recorded webcast for investors, which you can watch on the site.
The main point is this: we don’t have any 2013 numbers for AVID. Avid has filed no earnings reports, including the 2013 Form 10-K American public companies must submit to the SEC (Securities and Exchange Commission, the US financial regulatory body). In addition, Avid says the numbers that from 2012 are part of the restatement process. (There never was even a Q4 2012 statement.) It’s also worth noting that our bias is heavily on the audio/music side, not the video production market to which Avid caters. That is only one portion of Avid’s business, and we can’t adequately cover the rest.
The main point of the story, though, was people in music or keenly interested in the future of the company. We received an unprecedented amount of feedback from users, across the spectrum of music and audio makers. The message: those of you who do use Pro Tools care about it passionately, and many of you consider it an irreplaceable tool. Those of you who don’t use Pro Tools are passionate, too, about what is happening at Avid and what it means for the industry. We got the facts wrong, and it’s important we get them right, and that we follow this story as it develops. (The Street has since removed those statements from their story, and even went as far as removing their “SELL” rating for the stock. However, it is not our business to report inaccurate information, whatever the source, and I apologize.)
Here is our understanding, and the latest information. Continue reading »
So much of the world of tool-making for musicians remains the work of impassioned individual developers, making a labor of love. Sinevibes is a perfect example of this kind of fine-crafted software, combining ingenious interface ideas with rich, musical sonic invention.
As Ukraine erupted into chaos in recent weeks, I watched the updates from Kiev-based Sinevibes developer Artemiy Pavlov on social media, hearing the word from inside the city and his perspective – analytical and emotional – on what it meant. Yet, remarkably, I also watched a series of developer updates to his plug-ins. Artemiy was glued both to the latest news and Xcode, it seemed, through the whole affair.
His OS X Multitude plug-in we’ve visited before; I already considered it a must-buy. Now, it’s on sale for US$39, and 100% of that goes to benefit those who suffered in the violence in the Ukraine. Sinevibes announces: “100% of the money from this sale will go to support the recovery of wounded activists and protesters, and to support the wives and children of those who lost their lives.”
Because these funds are going directly to Ukrainian recipients, Artemiy tells CDM he is working directly with donation coordination and medical offices at the local level. With the sale already on, that has already dispersed some funds. “Last week I sent some funds to the central medical office,” he tells us, “as well as personally to a few people which they gave me details for.”
If you need a reminder of what the effect does:
- It comprises four delay units, each with forward/reverse playback.
- To produce rhythms, there are then five gate sequencers and four delay sends.
- To those, you can add up to eight effects for each delay unit, route-able to any stage: frequency shifter, sample rate and bit depth reducers, circuit bender, noise, multi-mode filter, saturation, and flanger.
- You also get two LFOs for each delay, which in turn can be routed freely and use different waveforms and “adjustable chaos.”
In other words, it’s really a modular delay/multi-effect – deep stuff. The stuff you could make entire tracks out of.
The sale is on now through the 15th of March:
And some sounds, to refresh your memory: Continue reading »
We have an updated, more complete and accurate story on the issue, including commentary from Avid. Read the full feature
In it, we look at the NASDAQ delisting, some ongoing concerns (SEC, DOJ, and a shareholder suit remain issues), but also Avid’s strategy and the response from the company on how they intend to move forward.
Restructuring efforts at Avid maker Pro Tools are far from returning faith in the company by the stock market.
Financial site The Street reports today on the state of the company’s stock. Most troubling, yesterday Avid received a letter from NASDAQ delisting the company from the stock exchange. As of today, trading of AVID was halted on NASDAQ. (This doesn’t mean you can’t still trade AVID stock; you have to do it via the Over-the-Counter market.)
The really significant issues here are cash flow and earnings, and Avid’s ability to report on their situation – and losing NASDAQ trading will only exacerbate the problem. TheStreet Ratings Team looked at losses and negative cash flow.
IMPORTANT CORRECTION: Without identifying them as such, it appears that The Street cited the most recent data from Avid – though that data is badly, badly out of date, as Avid Technology hasn’t filed quarterly results since third quarter 2012, a full year and a half ago. This means that the divestment of M-Audio, for instance, is not included in the analysis. While it is still troubling that that data is unavailable (and this is one factor among others that led to NASDAQ’s suspension), it means that this story very inaccurately described the picture. The reality is, we don’t know. A full retraction / update on Avid is awaiting official word from the company, who have not yet responded to requests for comment (though we expect they may soon). -Ed. Continue reading »
aleph bees introduction from tehn on Vimeo.
It’s like having a roomful of modulars inside a mysterious magic box.
It’s like using Max/MSP with the control interface of an Etch-a-Sketch.
It’s … okay, really hard to describe. But aleph bees is certainly unlike digital hardware we’ve seen before. Using just knobs and text, and silky-smooth sound features – everything runs fast and glitch-free, even hot-swapping hardware – aleph bees is a kind of experiment in computer minimalism. It’s as open-ended as a computer, but in ruggedly-simple hardware. It lets you program custom software with a few twists of your wrist and some button presses.
It’s hard not to be oddly inspired by it, even if you decide you don’t want one. (At US$1400, it isn’t quite an impulse buy.) And iff this seems like something that would appeal to a very niche crowd, you’re right. So far, only a handful of aleph units are in the world.
But monome creator Brian Crabtree promises a new batch is shipping this month, units are still available, and more is in store, including open source hardware. He writes us:
we’ve made great advances with the software over a short time and are enthusiastic to reach a bigger audience for more participation. we have a few great audio programmers jumping in and i’m looking forward to seeing what they do with this system.
Brian admits that aleph is ambitious and hard to explain, and welcomes questions. So ask away, whether you think this is the bee’s knees or you’ve just got a bee in your bonnet. Continue reading »
This is … real. This is really the famed “crack-smoking” mayor of Toronto, laying down a beat live with Ableton Live and Ableton Push. And it’s definitely not an official Ableton artist endorsement, nor is Rob Ford a certified Ableton trainer. (Though if he does want to consider another career…)
Well, some people do find Push addictive.
Next: Putin on monome?
If you aren’t impressed by Ford randomly jabbing pads, you might watch this instead, via Synthtopia: Continue reading »
One thing you mostly can’t do with brass instruments is play them listening through … headphones.
And that’s a big deal when you’re practicing, of course. There just hasn’t been a good way to do it without bothering other people.
Enter Yamaha. (Yes, it’s no big surprise that a country associated with tiny, closely-adjacent apartments and actually making walls out of paper would find advances in practice technology again and again.)
Yamaha’s SILENT Brass system, devised for French Horn, trombone, flugelhorn, and trumpet, isn’t new. But the latest evolution may bring it to a wider audience. The idea is this: stick a mute in the instrument so it can be barely heard, then replace the sound with synthesis so the player can still hear through musicians. Traditionally, there are two variables where this goes wrong. The first is the compactness of the physical apparatus. Make it too big, and the system is inconvenient (or can even throw the horn off-balance). The second issue is sound.
If you know something of the history of synthesis, you know that Yamaha – this is me talking, not their press release – has been a pioneer in the synthesis field. They were the first to bring physical modeling to market in a real product. And they haven’t stood still, either. Ironically, the breadth of products the company offers has sometimes distracted from some of their best research. But when it comes to a hardware company replicating brass sound, they stand on their own.
Get the two ingredients right – make the physical bit unnoticeable and the sound seem like the real thing – and you can have a headphone experience that approaches playing the instrument all-out. And brass players I’ve spoken with who’ve tried this system find it good – uncannily good. (You can hear the demos; they’re fairly impressive, and certainly more than what you’d want for practicing late nights at home.)
And speaking of what I’m sure you associate with Japan, it’s guys with flowing, blonde hair playing “Oh, Danny Boy” (seriously – these 30 seconds are freaking awesome – Eric is an insanely-talented Tokyo-based trumpet player with the locks to match his chops):
Here’s how the SILENT Brass system works: Continue reading »
Like superhero armor, the sleek Guitar Wing fits over the edge of your guitar – your existing, beloved guitar – and gives it badass bonus powers. The crowd-funded accessory finally brings control for digital instruments and effects to the fingertips of guitar and bass players, without forcing them to change instruments or give up their conventional techniques.
Instead, Guitar Wing, via Bluetooth connection, provides pressure-sensitive pads, faders, buttons, switches, and (if you like) three-dimensional motion control right to the instrument. USB charged, rechargeable battery-powered, and with RGB color feedback and editing options, it’s ready to go anywhere and control anything. It comes with its own multi-effects suite, but more likely you already have software on a computer or mobile device you want to use.
And now, if you want one but put off buying one – just as we are late in writing about this – well, now is the time. Our friends Moldover and Livid Instruments, creator of the instrument, are bringing us the latest videos you may not have seen elsewhere. And in under 48 hours, as this week reaches its end, the crowd funding comes to its conclusion. That means it’s your last chance to get first in line for one under US$200 (or back it, starting at a buck).
Guitar Wing: Wireless Control Surface for Guitar and Bass
by Livid Instruments
Let’s have a look at how people are using this. And no, it turns out “controllerism” is not limited to minimal techno and EDM. Ahem. Like, let’s start in Spanish-language Colombian head-banging awesomeness. Continue reading »