Fast Company

Today in Most Innovative Companies

News of note from our Most Innovative Companies, including Turner Sports, Ford, and Spotify.

Turner Sports: Late last week, CBS Sports and Turner Broadcasting announced that a new deal had been reached with the NCAA that would give the networks TV, Internet, and wireless rights to the Division I Men's Basketball Championship from 2011 through 2024. The companies paid over $10.8 billion to secure the 14-year deal for the March Madness tournament, outbidding ESPN.

Ford: The Ford Motor Company announced earnings of $2.1 billion today, its greatest quarterly performance since 2004. The profits are an indication of Ford's successful new product launches, but also point to how much the Michigan-based company has changed since the recession, with many plants closing and thousands of workers laid off. With such tightened operations, the automaker is clearly finding big gains. Of course, Ford's Sync technology should also account for Ford's recent success.

Spotify: Even though Spotify has become a top source of digital revenue for major record labels overseas, it's important to question how much that amounts to given the sorry state of the music industry. According to data released by BPI today, subscription and ad-based music services in the UK accounted for a total of $30.5 million in 2009. Based on Billboard calculations, this would mean the big four record labels earned between $5-$7 million from the services, depending on their market share--not much, in other words. Considering Spotify is only one of many services, it's not exactly a revenue-making-machine so far in the UK.

[Image via Four Wheeler]

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