Thursday, January 22, 2004 - Warner Music faces $250M in cuts

This happens to support my theory that LA Reid will not end up at Warner. Unfortunately this is bad news for the industry and for many of the artists. Ultimately the fact that expenses are out of control are rarely the artists fault. And ultimately if the artist is your source of revenue, reducing that work force by definition forces the parent company to reduce support staff, which all non artists are.

I also find it funny that the article mentions Norah Jones as the target artist labels try to keep, considering she isn't even on a Warner label. - Warner Music faces $250M in cuts: "selling artists such as Norah Jones. That would require restructuring the contracts of some lower sellers or dropping them completely. Warner Music International currently has a roster of more than 800 artists performing in 25 languages in 70 countries."

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