Record Labels Finally Profit!
...by robbing RADIO.
According to this morning's Inside Radio, BMI's revenues topped $901 million last year and $224 million of it came from Radio. Their total revenues were only up 7% last year -- but a whopping 25% of their overall revenue came from the industry that helps push their vapid product on millions of listeners who could have otherwise avoided hearing their mediocre music.
AND, the Labels think Radio should pay MORE! The Labels are pushing Congress to undo Radio's exemption from a performance-based royalty that could add from $2 to $7 billion in new fees to their bottom line.
Radio is the delivery vehicle for the Label's product. It introduces (and pushes) their product on listeners who might not have otherwise been exposed to their product. The Labels do not pay for the time spent airing their product (hell, it's against the LAW to charge them!)
This seems an awful lot like charging truck drivers for delivering the Label's music CDs to stores. "Yes, we know that we need you to deliver our CDs to the store, but we want you to pay US a $1 for every CD you deliver."
Hell, at least the truck drivers are allowed to charge the Labels for toting their crap from city to city...
According to this morning's Inside Radio, BMI's revenues topped $901 million last year and $224 million of it came from Radio. Their total revenues were only up 7% last year -- but a whopping 25% of their overall revenue came from the industry that helps push their vapid product on millions of listeners who could have otherwise avoided hearing their mediocre music.
AND, the Labels think Radio should pay MORE! The Labels are pushing Congress to undo Radio's exemption from a performance-based royalty that could add from $2 to $7 billion in new fees to their bottom line.
Radio is the delivery vehicle for the Label's product. It introduces (and pushes) their product on listeners who might not have otherwise been exposed to their product. The Labels do not pay for the time spent airing their product (hell, it's against the LAW to charge them!)
This seems an awful lot like charging truck drivers for delivering the Label's music CDs to stores. "Yes, we know that we need you to deliver our CDs to the store, but we want you to pay US a $1 for every CD you deliver."
Hell, at least the truck drivers are allowed to charge the Labels for toting their crap from city to city...
Labels: Industry, Radio, Rants, Record Labels
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