Word: yetnikoff
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Dates: during 1980-1989
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...same time, Sony gave free rein to CBS Records chief Walter Yetnikoff, 56, to build the unit's creative output. "CBS always treated us like a stepchild, a little, dirty urchin," says Yetnikoff, "but Sony gives us respect. The important thing is, they like the artists and the business. They understand it's more important for me to take Bruce Springsteen's call than Norio Ohga...
...another, Akio Morita, who is responsible for the Walkman and other breakthroughs. Morita, who favors classical music, seems determined not to mess up the good beat at CBS. His company has offered a package of some $20 million in compensation to persuade CBS Records' bearded, brassy chief, Walter Yetnikoff, 54, to stay in his job for several more years. The sale no doubt contains some irony for Springsteen, whose songs have identified strongly with U.S. workers caught up in economic changes beyond their control. But the Springsteen camp seems pleased that Sony will not change the management. "If Yetnikoff...
...crazy crystal that throws off light from any angle. There are nine songs on the album; seven have been released as singles; all have hit the Top Ten, and two of them have reached No. 1. "I don't think the album's sales are finished," says Walter Yetnikoff, president of Epic's parent company, CBS Records Group, with just a light dusting of facetiousness. "There are some 200 million people in this country, and we've sold only 18 million copies here so far. There are a few more...
...headquarters was transferred from Los Angeles to New York City to cut expenses. The CBS/Records Group, which together with Warner commands 45% of the market, closed down a record-and tape-manufacturing plant in Terre Haute, Ind., and has laid off some 1,500 employees. Says Group President Walter Yetnikoff: "It used to be that if any artist said, 'I want a billboard on Sunset Strip,' we'd say, Fine.' But not any more...
...beef about everything from home recording and sales of blank tape cassettes to the boom in home video games and the counterfeiting of albums. Jules Yarnell, special counsel for the Recording Industry Association of America, estimates that companies lose $800 million every year through counterfeiting, piracy and bootlegging. Walter Yetnikoff, president of CBS Records Group, figures the industry loses 20% of its revenue just from home taping. Jack Reinstein, treasurer of Electra/Asylum/ Nonesuch Records, calculates 400 million albums were taped off the air in 1980 alone, "without any compensation to the artist, the songwriters and publishers, the musicians, the record...