Record label layoffs are coming to Universal Music, Warner Music and Sony Music. Will artists get cut, too?
In January 1999, Universal Music Group laid off hundreds of employees during a wave of consolidation with PolyGram. “The biggest staff cuts were at Geffen and A&M, two Los Angeles-based labels that have been folded into Interscope Records … and at Island Records, which has been merged with Mercury,”reported at the time, predicting that the cuts would affect label rosters, with “baby bands … expected to suffer the most casualties in the shake-ups.
Later the same year, BMG and Sony Music merged. “In each market tough decisions will have to be made about the senior executive lineup, overall staffing and artist rosters,”While layoffs were typically followed by roster trimming in the past, history can serve only as a limited guide when assessing the latest round of cuts.
Labels are already more willing to trim their rosters than they were in the past, and A&R executives say this may have intensified independent of the recent layoff announcements, after a period of excessive signing driven by pressure to maintain market share and an abundance of viral hits on social media. “Would speed up the process of trimming the roster?” asks entertainment attorneyWarner Music Group Just Had Its Biggest Quarter Ever.
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