Extra! Extra! Read all about it – Your music sold for a song!!

extraHoly shitballs, can you believe it?  Lucky 13 has finally hit the music business square in the face as IFPI declares the global music industry up in 2012 by a whopping 0.3% to US $16.5B, the first growth the industry has seen since 1999.  That’s 13 long years!!!

And Clive Davis, CCO of Sony Music Entertainment who turns 81 this year, finally admits to the whole world in his new memoir that he’s gay.  D’oh!  Really?  Oops, sorry bisexual – “To call me anything other than bisexual would be inaccurate.”  You go girl!

And, Doug Morris, the 74 years old CEO of Sony Music, reveals in Bloomberg Businessweek that Steve Jobs called him “a f—ing moron” and why.

But did you know Warner Music Group recorded music division CEO, Lyor Cohen 52, was shitcanned last Fall by WMG CEO Stephen Cooper, age unknown?  Stephen who?  You know, the bald headed corporate turn-around artist who’s a member of the Supervisory Board for LyondellBasell Industries N.V., one of the world’s largest olefins, polyolefins, chemicals and refining companies.  I couldn’t make this shit up if I tried.

And what’s the 53 years old Lucian Grainge, CEO of Universal Music Group, been up to?  Well, he bought the EMI Music Group for US$1.9B last Fall and just sold off the Parlophone Label Group to WMG for US$765M and sold the popular music compilation series “Now That’s What I Call Music!” to Sony for about US$60M, turning UMG into the world’s largest music company along the way and confirming my long held belief that the music industry would boil down to 3 major labels.

To help you, artists, better understand the zeitgeist of all this news, let me quote here the exchange between Doug Morris and Steve Jobs pulled from the B-berg bizweek piece:

“Are you a f—ing moron?” Jobs asked.

“How could you say something like that?” Morris asked.

“Because you are going to do the same thing three times over,” Jobs said. “You are going to be the CEO of one of these big stupid companies.”

“Well, I guess that’s what I do, Steve,” Morris said.

“Yeah, well, do it for me,” Jobs persisted. “Come here, and let’s start a digital music company.  These old things will break up, and we’ll buy them for a song.”

There you have it.  This short and embellished soliloquy between Sony Music CEO Doug Morris and dearly departed Steve Jobs is what awaits when you do business with the remaining three major labels – your music, sold for a song!!


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: