BMG to Slash Artists (60%)

MIKE BURN · Posted: Sun Jun 13, 2004 11:01 am Post subject: BMG to Slash Artists (60%)

Quote:
BMG Germany to Slash Artists

BMG Deutschland will stick to its plan of reducing its stable of artists by 60 percent as part of sweeping internal changes, company president Maarten Steinkamp wrote in an internal newsletter.

A spokesman from the firm's headquarters in the western German town of Gütersloh acknowledged that the internal report was accurate. News agencies quoted the spokesman as saying that the measures, which should be completed by the end of June, are a sign of a "cultural change" in the organization, rather than a purely economic decision.

But reorganization on financial grounds has been underway for quite a while at the German subsidiary of New York based Bertelsmann Music Group, which is facing a merger with Japanese electronics concern Sony.

Two years ago BMG Deutschland said it would drastically reduce its work force, from 500 to around 230. Today it employs just 300 people. "Fewer artists mean fewer people to manage and take care of them," Steinkamp said.

LONG LIVE THE INDEPENDENT MUSIC SCENE!!!

MIKE

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DreamTone7 · Joined: 20 Sep 2002 Posts: 2571

In keeping with the recent wisdom of record companies, they'll probably slash all the wrong ones.

droolymutt · Posted: Sun Jun 13, 2004 6:34 pm Post subject: Re: re

Well.....

I understand that....

After all... - BMG is about Balance Sheets, not Music...

Gotta make a profit to survive....

RonOnGuitar · Joined: 08 Jan 2003 Posts: 1916

Is that 60% of German artists, Mike, or do they mean 60% of the worldwide BMG distribution catalogue?