Listen Up: Universal Music CEO Lucian Grainge says he’ll double A&R investment at Capitol and Virgin

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Universal Music Group CEO Lucian Grainge was in bullish form late on Friday as in the wake of his company’s acquisition of EMI Music finally clearing EU and US regulatory hurdles. It was a long road that officially began when EMI went on the market some 15 months ago, continued through months of protracted negotiations that even saw him speaking at a U.S. Senate hearing in June. While he expressed regret he was unable to keep all of the iconic Parlophone label (as one the conditions of getting the deal), he promised to double A&R investment in the Virgin and Capitol labels. Here he told us about his plans for his company’s new acquisitions.

 

Q: How much in cost savings will UMG realize, following the concessions now required by the European Union?

 

A: Our number is at £100 million. That has not changed.

 

Q: How many jobs will have to be cut to help achieve that number?

 

A: It’s still too early to say.

 

Universal-EMI Merger: A Timeline Of Events

 

Q: How does this merger help Universal Music Group and the wider music industry?

 

A: To have a healthy, strong Capitol Records and Virgin Music is a good thing for the music industry. We will bring more investments by entrepreneurs and musicians than there have been for a long time. We will be doubling the A&R investment these labels have been making in recent years, and that will work its way through the industry ecosystem. EMI has been underinvested for a long while, through a tumultuous time which has been well documented. But I must say, [EMI CEO] Roger Faxon and his team have done a great job, even during an emotional period.

 

Universal Music-EMI Merger: UMG Struck Gold With PolyGram in the 1990s, Can They Do It Again?

 

Q: How do you envision this working?

 

A: I will work tirelessly to help create more music. We are seeing such disruption the growth in use of tablets, smartphones and in the opportunities through all these different platforms, my vision is that we are building a company that can work with a range of entrepreneurs.

 

Q: How does reducing the number of major music companies from four to three create more opportunities — or more choice, as you have said?

 

A: By growing the Virgin and Capitol labels. I don’t see this as reducing the number of majors but rather strengthening two of industry’s best-known labels with investment. The world in which I live is one where there’s more competition, more robust challenges and lower barriers to entry.  We’ve been on the receiving end of a propaganda war: It’s spin and conjecture to say there will be less choice. We are going to create more choice for artists and more entrepreneurial opportunities with the investment we’re going to be making.  I believe in working in with a wide variety of popular music and entrepreneurs as we’ve done with Cash Money and Scooter Braun’s Schoolboy Records, for example.

 

Q: Are they any genres in particular that might benefit from your investment in Capitol and Virgin?

 

A:  I think in terms of urban and rock music, these are areas that will receive a boost.

 

FAQ on Approval of Universal Music – EMI Deal

 

Q: Any regrets about losing a big portion of Parlophone?

 

A: Yes. When I speak, I speak with validity and truth. I would have much preferred to have kept Parlophone as part of EMI, but it wasn’t to be. We’ve got the Beatles, Robbie Williams and Frank Sinatra, among others, so I’m thrilled and privileged to have two-thirds of EMI.

 

Q: How do you see the sale process of the Parlophone assets going?

A: It’s a great asset for anyone who wants to be involved in the music business. It’s pure class and quality.

 

Q: Are you keeping the EMI brand?

A: Yes. It’s an industry brand that has enormous traction in in the parts of the world that Capitol doesn’t have.

Read more at http://www.billboard.biz/bbbiz/industry/record-labels/universal-music-ceo-lucian-grainge-says-1007955492.story#4Lhz8gTbSzlk7zKx.99

Listen Up: Lyor Cohen resigns from Warner Music Group

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With the announcement that he is resigning from his post as Chairman and CEO at Warner Music Group, Lyor Cohen left the industry scratching their heads as to what his next move will be.  Effective on September 30th, he will leave WMG after joining the company back in 2004.

In a characteristically noncorporate statement, Mr. Cohen left with a pep talk for his employees. “To all the artists and employees who live and die for the music every day,” he said in a statement, “and who personally sacrifice for the good of the creative process: ‘keep on keepin’ on’ in the tradition of a company that respects and honors the artistic community.”

No reason was given for Mr. Cohen’s departure, but he was known to be negotiating for a new contract. Last year, Mr. Cohen earned nearly $11 million in total compensation, more than any other employee, including Mr. Bronfman, according to Warner’s annual report.

A successor was not named, and for the time being the leaders of Warner’s labels will report to Mr. Cooper.

Events: The Barclays Center [Home of the Brooklyn Nets] Ribbon Cutting Ceremony

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This shit is awesome. Big up to Jay-Z for his involvement with this. Truly Inspiring.

With the snip of some giant shears, Brooklyn’s shiny $1 billion arena opened for business Friday — and a new era for the borough was ushered in.

The long-awaited Barclays Center’s debut began with plenty of hoopla and a cloud of confetti as jubilant mega-developer Bruce Ratner welcomed both swells and supporters to the centerpiece of his audacious plan to remake the heart of Brooklyn.

“We have a place where, for a few hours a day, a fan, a patron, a guest, can have their troubles left behind and they can be whooshed away for a couple hours,” he crowed at the ribbon-cutting ceremony.

The Barclays Center is the home of the NBA’s Brooklyn Nets and Ratner said he was especially proud to be returning a pro sports team to a borough that hasn’t had one since the Dodgers left for Los Angeles 55 years ago.

“We needed to keep our promise to bring the first sports team to Brooklyn since 1957 and we did it,” a beaming Ratner said.

Nets owner Mikhail Prokhorov likened the opening of Barclays to the debut of the Brooklyn Bridge.

“Not everyone in their lifetime gets to enter a project that changes the face and the destiny of a city,” the Russian mogul said. “Maybe those who were at the opening of the Brooklyn Bridge, they could say we saw a symbol being born. And I think we’re all witness to such an event.”

Ratner was also joined by allies like Mayor Bloomberg and Brooklyn Borough President Marty Markowitz, who ran interference for the controversial arena and the larger $4 billion Atlantic Yards project.

“This is going to send a loud and clear message that Brooklyn has arrived as a center of entertainment, thrilling big-time sports and thriving commerce,” Bloomberg said.

Then Ratner took everyone on a quickie tour of his creation — an 18,000 seat, 675,000-square-foot edifice that took about two-and-a-half years to build and will host its first Nets game on Nov. 1.

Fittingly, the Nets’ opponent will be the New York Knicks. For the Knicks, who play in Madison Square Garden, it will be an away game.

While the word Brooklyn appears nowhere on the brown metallic skin of the area, the borough’s brand is everywhere inside.

Famous names like Nathan’s hot dogs, Junior’s cheesecake and Brooklyn Brewery will be on tap, but visitors will also be able to buy meals from lesser-known Brooklyn outfits like the Avenue K Deli and BK Bangers & Dogs.

There are 2,000 cheap seats, costing $15, set aside for game days. But for the big shots, there are luxury suites with plush carpeting and black leather seats and hi-def TV’s that overlook the herringbone-pattered hardwood on which the Nets will play.

Ratner’s arena is built on what had once been a thriving Prospect Heights neighborhood and some of the people who fought the futile nine-year battle to forestall the wrecking ball held their own counter-demonstration outside.

Daniel Goldstein of Develop Don’t Destroy Brooklyn, who is one of those who lost his home, said they will hold Ratner to his promises of providing thousands of “permanent jobs” and hundreds of affordable housing units to the area.

Asked if he would ever consider going to a Nets game, Goldstein replied, “No (expletive) way.”

Ratner has created 2,000 post-construction jobs, but only 200 of them are full-time. He said they will be breaking ground soon on the first of 16 skyscrapers slated for the 22-acre site — and that half of the 363 apartments in that 32-story building will be for low- and middle-income tenants.

mmorales@nydailynews.com

Source: http://www.nydailynews.com/new-york/brooklyn-new-barclays-center-opens-business-a-ribbon-cutting-ceremony-article-1.1164856#ixzz278fzoB9W

Dopeness: Cassette to mp3 iPhone 4S Converter

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I know the iPhone 5 just came out but this is dope…

Dig up your old mix-tapes and get ready to reminisce… This device converts audio tape cassettes into MP3 files and stores them directly onto an iPhone or iPod touch. It accepts most iPhones and iPod touches, and normal or chrome cassette tapes. With its free app, conversion to MP3 is as simple as inserting a cassette, docking an iPhone or iPod touch, and pressing play. Tapes can be listened to using the headphones jack (headphones required) or by connecting its audio output to a stereo system for scanning forward or reverse to select tracks for conversion. $79.95