Record Label Layoffs
Ξ December 17th, 2007 | → 1 Comments | ∇ Eve, Music, Music Bands, Music People, Nicole Scherzinger, Record Label, Review, Singers, Will.i.am |
Interscope and Geffen Records merged into one on Thursday and along with the merger was the layoff of 60 people. Many of those laid off had been there for years. This is another sign that the music industry is dying.
A music industry source is saying that the biggest reasons for the merger and cutbacks were the huge failures of the albums of will.i.am, Nicole Scherzinger and Eve. The last two aren?t even out yet but are projected to be big losses. The insider says ?It cost $18 million to make and market those three albums – all bombs. Jimmy Iovine [the head of Interscope responsible for the layoffs] is the most hated man in music today!?
on January 24th, 2009 at 5:43 pm
See nicole on nii r?mee