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Post by eilene on May 17, 2004 14:52:36 GMT -5
According to an article in today's Los Angeles Times, METALLICA have struck a deal to have their next — and final — album under their present Elektra contract marketed and promoted by Warner Bros. Records. The move will take place as part of Warner Music Group's efforts to consolidate its major East Coast labels, Atlantic and Elektra, according to the article. About 50% of the labels' combined roster of about 170 acts will be let go.
Lyor Cohen, Warner Music's U.S. chief executive, declined to detail the roster cuts but said, "The tipping point of whether an artist remains is the company's passion to market and promote them. Everyone that remains we're going to be insanely passionate about."
The roster review comes as part of a broader effort by Warner Music's new owners, including its chairman, Edgar Bronfman Jr., to cut more than $200 million in costs.
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Post by Frank on May 17, 2004 15:02:52 GMT -5
SOUNDS LIKE THERE WILL BE A LOT OF GREAT BANDS LEFT HOMELESS.  |
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Post by Jesse on May 17, 2004 17:07:53 GMT -5
SOUNDS LIKE THERE WILL BE A LOT OF GREAT BANDS LEFT HOMELESS. Hopefully CMC or SPV will pick them up. Problem is with those labels, the records never get the advertising push the bands were promised when signing with them. I know for a fact that's been the case with both Molly Hatchet and UDO. |
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Post by JaminJim on May 17, 2004 17:42:32 GMT -5
According to an article in today's Los Angeles Times, METALLICA have struck a deal to have their next — and final — album under their present Elektra contract marketed and promoted by Warner Bros. Records. The move will take place as part of Warner Music Group's efforts to consolidate its major East Coast labels, Atlantic and Elektra, according to the article. About 50% of the labels' combined roster of about 170 acts will be let go. Lyor Cohen, Warner Music's U.S. chief executive, declined to detail the roster cuts but said, "The tipping point of whether an artist remains is the company's passion to market and promote them. Everyone that remains we're going to be insanely passionate about." The roster review comes as part of a broader effort by Warner Music's new owners, including its chairman, Edgar Bronfman Jr., to cut more than $200 million in costs. Sounds like with the internet & people starting to distribute directly to the public. Warner is moving in the direction they need to be to profit from the future marketing trend. The middle men who hold out to the last will be the one to get  |
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Post by Pete on May 17, 2004 18:19:07 GMT -5
SOUNDS LIKE THERE WILL BE A LOT OF GREAT BANDS LEFT HOMELESS. a lot of people always say how corporations have taken over rock and it has become about the business and sales not the music. Maybe these types of things will bring about a grass roots music explosion. Now instead of a promotions budget maybe playing live, quality music, and loyal fans will make or brake a band not corporate promotion and Clear Channel. |
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