#989588 - 05/20/04 10:52 PM
Is buiness a little slow?
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gtrguru
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Registered: 02/26/02
Posts: 95
Loc: Warren,MI,UNITED STATES
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I have been a recording engineer in Detroit for a few years now, and have been steady in business. Over the past 3 months or so, I have noticed quite a decline in clients. Has anyone else noticed similar results because of the economy? I know the music business is going through lots of changes (and I know it needs it), but this is retarded.
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"Music is only heard by those that listen"
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#989589 - 05/21/04 07:08 PM
Re: Is buiness a little slow?
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bdbklyn
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Registered: 04/04/01
Posts: 1035
Loc: Los Angeles,CA,UNITED STATES
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Things have been "slow" for quite some time. Their are some mitigating circumstances over the recent slump including:
1. Massive layoffs at BMG. By the way, BMG has has their accounting departments "outsourced" since last fall.
2. The acquisition of Warner Records and affiliate labels by Edgar Bronfman has caused downsizing and the recent announcement that Elektra would be no more.
3. The recent disolving of Motown and Dreamworks entities into UMG.
4. The resistance by the EU in letting the BMG /Sony merger take place.
All of these moves result in less records being made! Less bands signed and no talent being developed! Consequently, less studio time booked by the majors.
The sad fact of life...if you don't choose to embrace it, is that the record business is over!
The music business wil continue!
Case in point:
I have a friend who made 4 albums in the middlle to late 1980's and the sold about 3.5 million units. He made a solo CD recently....just him and acoustic guitar... sold them via internet and local shops and sold 10, 000 units. His profit was $80,000 from the sales of the CD.
He never saw a dime of profit from his previous 3.5 million units!!!!!!!!! Not after advances and tour support and videos.
Sure, he got to take limos to gigs and Grammys and MTV awards but so did the record company president, all the VP's and A&R staff.
In a healthier stock market there would be tons of venture capital available to fund recording projects that isn't there right now.
I think it's just a matter of time when we will start to see more indies with successful releases and that will be the future of the biz.
bill
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#989590 - 05/25/04 10:39 PM
Re: Is buiness a little slow?
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gtrguru
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Registered: 02/26/02
Posts: 95
Loc: Warren,MI,UNITED STATES
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Good to hear it's not just slow over here.
ANOTHER THING:
Rumors have it that the majors are starting to charge acts for a deal! Has anyone heard about it?
To me, I can totally believe it. There are so many signed artists out there that everyone knows should still be in the lab grinding out long sessions trying to improve skills they don't have.
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-gtrguru
"Music is only heard by those that listen"
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#989591 - 05/30/04 01:36 PM
Re: Is buiness a little slow?
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KeyBored
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Registered: 01/02/04
Posts: 14
Loc: LA-LA Land... where else?
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You could say they have already been charging acts for their deals for years...
If you count the loan shark "interest" they charge on advances, what is "recoupable", and the "free form jazz math" they use in the accounting departments.
Just my $.02
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#989592 - 05/30/04 01:48 PM
Re: Is buiness a little slow?
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robmix
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Registered: 05/22/01
Posts: 1187
Loc: Los Angeles,CA,UNITED STATES
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We're getting less work from majors but we're busier than ever with other projects. Records being funded by indies, managers, investors, even big corps looking for alternate advertising avenues. There used to be a lot of records being made, and even though the majors mostly hired the top production teams there was so much work that everyone was busy. Now there's fewer records being made and that same list of top producers is still busy.
Rob
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