This item will be for idle chit-chat about the music business which would go in neither the "Retailing" item (which focuses on local issues) or the "Napster" item. What can I say, I'm obsessed.2 responses total.
Reuters reports that the EMI group (one of the weakest of the five major labels) lost 30% of its stock value Tuesday when it reported lower-than-expected profits. A big problem is the new Mariah Carey album, which only debuted at number 7 on the charts. (*only*, coff coff. Still, that was better than the Mariah Carey movie "Glitter" did; the movie appears to be a commercial flop so far.) The Reuters reporter says the music business is moving "from bad to worse." Also widely reported on the net is the cancellation of the Latin Grammy Awards show. The show was originally set for Miami, and the NARAS folks pulled out of that city when agreements over controlling anti-Castro demonstrators fell apart. (I think the NARAS people had reasonable concerns; a recent show by the Cuban band Los Van Van was the occasion for an anti-Castro riot.) The show was relocated to Los Angeles, and it was supposed to air on September 11, the day of the terrorist attacks. My guess is that NARAS felt they couldn't ask people to make a third set of travel plans.
Oh, is the music industry falling apart? Awww, that's so *sad*.... <mops up the puddle of sarcasm>
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