Variety says that WMG reported a $23 million net profit last quarter: Edgar Bronfman’s company posted a $23 million net profit in the fiscal first quarter that ended Dec. 31 compared with a $16 million loss in the year-earlier period. Total revenue declined 11% to $878 million, but digital revenue soared 20% to $171 million … Continue reading Major Label Makes a Profit
In celebration of Record Store Day, Warner Brothers (via imprints, etc.) is releasing limited number vinyl pressings from Wilco, Sonic Youth, Beck and others. Grimey’s reports: Warner Brothers has already announced a complete slate of Wilco reissues from A.M. through Summerteeth, all 180-gram RTI pressings with CD included (just like Sky Blue Sky, Ghost Is … Continue reading Wilco, Sonic Youth, Beck Get Vinyl Reissues
Warner Music is buying Rykodisc for $67.5 million. Rykodisc owns Frank Zappa’s catalog and controls Restless Records (Replacements, etc.). What’s going to happen to those green-tinted jewel cases?
Warner Music Settles Payola Probe for $5,000,000.00.
Wonder why major labels are losing money? Look at Warner Music Group’s officers’ salaries: Edgar Bronfman makes $6,250,000 while Lyor Cohen makes $8,340,000. That’s almost 15 million dollars per year to pay two guys who want us to believe that sharing music hurts artists. Fuck you!