'Fucked' record companies in 'cataclysmic' meltdown – Tim Clark
Friday, June 29th, 2007As some of the biggest figures in the music business weighed in on the future of music this week, there were very mixed views on its future.
“If Ford’s revenues were down 40 per cent, the shareholders would be revolting,” said Tim Clark, former Island Records MD and co-founder of management company IE Music, whose roster includes Robbie Williams.
The latest CD revenue figures suggest 40 per cent declines in some markets. “Their model is fucked. It is. Physical revenues are going down like nobody’s business and it’s cataclysmic,” Clark told a panel at the London Calling music expo at Earl’s Court.
Clark hears the sound of pigeons are coming home to roost, and outlined a post-major label future that would be a lot more flexible.
“Deals have been struck with ISPs, but I’ve yet to hear of a single penny going back to an artist. Leaving aside the black boxes, is it anybody’s surprise that an artist doesn’t trust the record company?” he asked.
“Record companies deserve to be attacked for many of the things they’ve done,” he added. “There are great A&R people and great marketeers at these companies, but they haven’t been serving artists [or] fans over the years.”
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