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Diddy Gives New Yorkers Free Cab Rides Home For New Year's Eve

Although he was unable to skin Time Square's New Years Eve ball in Ciroc blue, Diddy isn't fazed. Instead, he's planning something else for his fellow New Yorkers for the end of the year -- he wants you to get home safe.

According to Diddy's camp, he and Ciroc have teamed up with city Taxi & Limousine Commission and E! Entertainment to give away thousands of free cab rides on December 31st.

"New York is the world's most iconic New Year's Eve City, so let's lead by example and show everyone that a sophisticated holiday celebration doesn't just end when the ball drops, but when everyone gets home safely," the hip-hop mogul said in a statement.

Throughout the evening, Ciroc will have street teams in Times Square handing out debit cards that can be used for taxi rides.

As far as Diddy's $1 million offer to New York City to brand the New Year's Ball, his camp says that the mayor's office decided that the time frame was too small to make it happen. However, they say it may happen next New Year's Eve.

For anyone who wants to know more about Diddy's premium vodka, Ciroc, visit CirocVodka.com.

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PlayStation 3 LAGS BEHIND Wii & Xbox 360 THIS HOLIDAY SEASON

Considering the way that the Wii flew off shelves last month, this next item probably won't come as a shock to anyone.

According to the Wall Street Journal, both Nintendo's console and the Xbox 360 trounced the PlayStation 3 in holiday sales, with U.S. sales falling nine percent from this month last year.

During this same period, sales doubled for the Wii and rose eight percent for the Xbox 360.

Perhaps none of this should be a surprise, as Sony declined to cut prices on their system, while a lack of exclusive game titles and a number of inexpensive Blu-ray players went a long way towards making the PS3 the least attractive option in an already difficult retail climate.

If anything, it looks like Sony won't be able to rely on the console to help prop up a flagging electronics division that just announced it will be cutting thousands of jobs in a bid to boost profitability going into 2009. Happy New Year, indeed.

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Jay-Z's Hotel FUTURE In DOUBT

The development of a New York hotel rapper JAY-Z invested in is on hold because the star and his partners cannot pull in further financing for the project.

The Big Pimpin' hitmaker - ploughed money into J Hotels, which acquired a $66 million plot to build a high-end hotel in the Big Apple.

But due to the ailing economy, partners have failed to pull in investors - and there is now a $370 million shortfall in funds, as even the banks won't back the property development.

Charles Blaichman, one of Jay-Z's partners, tells The New York Times, "A year ago it would have seemed a reasonable amount. Not now. Even the banks who want to give us money can't."

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Study Says That 90% Of All Digital Music Didn't Sell In 2008

From BallerStatus.com -- Despite all the possibilities the digital age brings forth, music is still slumping. While its helped usher in things like the viral music video, sales of actually music hasn't become the money maker that CDs once were for major record labels.

According to a recent study by Will Page, chief economist of the MCPS-PRS Alliance, (via Times Online), 90% of all digital tracks for sale over 2008 didn't sell one copy. The report said that "10 million of the 13 million tracks available on the internet failed to find a single buyer last year."

The study found that, for the online singles market, 80% of all revenue came from around 52,000 tracks. For albums, of the 1.23 million available, only 173,000 were ever bought, meaning 85% did not sell a single copy all year.

Chris Anderson, author of The Long Tail, predicted in his book that the internet economy's love for niche markets would shift from a relatively small number of "hits" (or mainstream products) at the head of the demand curve toward a "huge number of niches in the tail."

However, in the new study by Will Page, it suggests that the niche market is not an untapped goldmine and that online sales success still relies on big hits.

"I think people believed in a fat, fertile long tail because they wanted it to be true," Andrew Bud, Will Page's co-researcher, told the Times Online. "The statistical theories used to justify that theory were intelligent and plausible. But they turned out to be wrong. The data tells a quite different story. For the first time, we know what the true demand for digital music looks like." Anderson doesn't, however, feel his "longtail theory" is wrong. He says Page's study needs a lot more evidence to undermine his findings.

"I respect what Will's done and have no doubt that he has indeed found a dataset where it doesn't work, but I'm not sure you can conclude much, if anything, beyond that," Anderson said. "If he's trying to undermine the entire Long Tail Theory, he'll have to provide a lot more evidence. I welcome the debate, but until Will's prepared to publish data and sources we don't have much to talk about." What does this mean for digital music? Who knows. Only time will tell. Sound off in the comments with your opinion.

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