Blender, the mag where you come for the reviews and leave quickly before you see how bad the features are, has a list of the “20 biggest record company screw-ups of all time.” Some are obvious, like the industry’s inability to deal with the internet (No. 1) and that guy who turned down the Beatles (No. 2). But should Berry Gordy selling Motown for only $60 million really be No. 3, given that he kept all the copyrights? Does signing R.E.M. to a major-label deal qualify at all? Is Chinese Democracy really the worst cash-hole ever? [Reuters]
I’m sorry to see the lazy Columbia records only at #10 for dropping Alicia Keys. They also dropped Usher before he hit it big, and actually spent money on Will Smith’s recording career post-”Gettin Jiggy Wit It”.
They sunk any and all marketing dollars in the late 90’s (after Mariah split)and early/mid 00’s on All-Things-Beyonce, and they wonder why they’re in the crapper after the profits from Bday and it’s 13 costly music videos only came out to about 50 bucks and some change.
No mention of Moby Grape? Bollocks!
Did they mention Mariah? Can’t tell from the article. Compared to Virgin paying $80 million for Mariah Carey’s contract, then $28 million to end it after only one album (in an era of crazy-ass lady superduperstars, an obviously short-sighted decision), Axl’s shenanigans seem like a handful of straw. Wouldn’t suprise me if Mariah’s not on the list: unlike Axl, she’s still a viable recording artist–and potential Maxim cover model–and as such, not really somebody you want to annoy.
I’m not so sure Warners hasn’t made their money back with that $80 million REM deal. You’ve got to remember they’re bigger than ever in Europe (playing stadiums all summer over there); their greatest hits is one of the biggest-selling albums of all time in the UK, and “Great Beyond” is their biggest European single, bigger than “Losing My Religion,” “Man on the Moon,” or “Everybody Hurts.”
@MrStarhead: An interesting point, but what is the European market compared to the US market? Smaller, equivalent, bigger?
@Dickdogfood: Somebody smarter than me correct me if I’m wrong, but i believe the European and American markets are about equal at this point in terms of sales.