Is the sand in the hourglass about to run out? There are some significant changes going on in the biz right now. The stats on album sales in the past couple weeks have reached record lows. The #1 slot on the album chart, which is currently held by the Dreamgirls ST, has posted sales at around 60k each week for two consecutive weeks. Meanwhile, tongues are flapping as to what is going to happen at Capitol and Virgin after last week’s ouster of EMI execs Alain Levy and David Munns by Chairman Eric Nicoli. Wall Street analysts have recently criticized Nicoli for now taking on an operational role at the group considering his lack of a music biz background. So what role will well-respected music vet and EMI consultant Roger Ames now have? There were some red flags for the British-run music group prior to Levy and Munns departure, one of them being a spending freeze that was implemented late last year. Vendors who were owed money, as well as bands who were about to go in the studio, were informed of the freeze last month, which in the past has been expected around March—the end of EMI’s fiscal year. But it arrived several months early during the wake of a profit warning statement and a since-rejected acquisition by private equity firm Premira. Meanwhile, financial analysts are predicting a purchase or a merger of the group in the near future… More industry casualties occurred last week as V2 closed its doors. Sources share that label owner
THE COUNT: COLDPLAY IS HOT, COUNTRY'S COOKIN' IN THE U.K.
The latest tidbits from the bustling live sector (3/29a)
| ||
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
|