EMI, Fruit, Flowers And Crap Music
EMI faces a rebellion:
But it is hard not to sympathise with the new bosses’ surprise at discovering entries in EMI’s accounts such as £200,000 for fresh fruit and flowers – a well-known industry euphemism for artists’ partying requirements – or the fact that 30% of the advances they hand out never result in an album being made, let alone one that people want to buy. But you do not need to audit a major record label’s accounts to know that there is a serious problem – just listen to Radio 1. Talk to anyone in the music industry, and they will admit that the parallel themes of gross profligacy and crap records are not unconnected.
Take a look at what they produce…
Posted: 17th, January 2008 | In: Money Comments (2) | TrackBack | Permalink
