Word: label
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...weren't worrying enough that their revenues are sliding, the major record labels are also having more trouble than ever controlling their artists. Prince cut out Sony BMG last July to give away his latest CD through a U.K. newspaper, cannily betting that he'd make up for this lost income by boosting sales of highly lucrative concert tickets. And in October Madonna abandoned Warner Music to throw in her lot with Live Nation, a California-based concert promoter. "The record-label system is built on 100% control," says Leonhard, and major labels "have lost that...
...Madonna, there's an award for a Winehouse, thanks to support from tuned-in record execs. "It's all very well to say bands can do it all themselves; some don't want to," says Max Hole, executive vice president of Universal Music Group International, which oversees Winehouse's label. Many now acting alone admit they got a leg up from a record company. "The only reason we could even get away with this," Radiohead's lead singer, Thom Yorke, said recently about selling its album directly to fans, "is that we've gone through the whole mill...
Still, high-profile departures like theirs could lead fresh talent to think twice about signing to one of the majors. And persuading established artists to stick around is especially tricky when labels are asking for a bigger slice of the revenue pie. Traditionally, when record companies signed an artist, they bought into the promise of an album; an act's other sources of cash - its concerts, say, or merchandise sales - weren't any of the label's business. But now, with album sales plummeting, music companies are chasing juicier income from touring and branded goods. Part of that revenue stream...
...expect to score sneaker ads or globe-trotting tours. Record companies still need the music to make them money. But some 30% of the artists on EMI's books have yet to come back with a recording, and sliding CD sales mean that overall, only 3% of the label's artists are profitable. "The actual economic power of new music is declining at an extraordinary rate," says EMI's Hands. Keen to keep it alive, he is mulling changes to the way EMI's artists are rewarded. Out could go generous advances for some artists - "an excuse...
...want you to do me any favors,’” Allard says. “This team, I feel, can handle it.” Harvard will need to be battle-tested when it heads into the Ivy schedule. As all defending champions can attest, that label is enough to get opponents psyched up to play you. With every team in the Ivies ready to bring its best when it plays the Crimson, a repeat—even with a talent-laden squad—is no simple task. Having the right mix of confidence, determination...