In Through the Out Door: Rick Rubin & American Recordings done at Sony?
Among the many industry plot-lines running through the major record label sector at the moment, is the uncertain future of Rick Rubin as co-chairman of Columbia Records. To many observers it seems he’s had one foot out the door since first taking the post back in 2007, with his lack of presence and producer projects at the label being well-noted along the way. While there has been no official word from Columbia or Rubin as to his future with the label, his contract expires next year, and speculation about his departure has increased following Doug Morris‘ crowning as Sony Music CEO this year and the restructuring that has followed. Evidence of what lays ahead for Rubin and Sony may also be found with the news of changes afoot at his imprint label American Recordings. Word started filtering through at the tail end of last week about staff changes at the storied label, which Rubin brought with him to Sony from Warner Bros. in 2007. No information has been officially released, but insiders are signaling a departure of the imprint’s A&R staff, while for the moment at least, it seems label GM Dino Paredes will be staying on in some capacity. Are the changes a sign that the label – best known in more recent history for signing System of a Down, Johnny Cash, The Jayhawks and The Avett Brothers – is getting out of the new artist business? Speculation is abundant as to whether American will be sold off, shuttered altogether, or will just continue on with the current catalog, however with no A&R department it seems at a minimum there would be a moratorium on signings at the imprint. It’s also worth noting what the label’s uncertain fate might spell for The Avett Brothers – undoubtedly the crown jewel of the current roster, with a healthy sales base, the band would certainly be much sought after if they suddenly became free agents… Stay tuned.
Bits & Pieces: EMI Exploring Options, Rick Rubin Surfaces & More…
the dude abides
EMI officially announced on Monday that it will undergo a strategic review process, along with Citigroup, to explore options that include selling the company. The list of potential bidders has been discussed for sometime, with the recent sale of Warner Music only intensifying speculation. The Los Angeles Times reported that Universal Music is planning to make a bid, while other names frequently bandied about include Access Industries (for a WMG merger), BMG Rights Management and other investment players who were in on the Warner bidding. Observers are wondering how much Citi will get for the company – as the WSJ points out, Warner was sold for eight times its 2010 earnings, with some now thinking EMI could fetch as much as 2.5 billion pounds… As Sony Music prepares for the entrance of Doug Morris next month, Rick Rubin has been talking publicly for the first time in awhile, toasting the success of Adele’s 21 and making it clear he’s always been a ‘creative’ guy and the “voice of reason and positive creativity” – leaving the ‘business’ side of things to the “people at the label.” Where and how the Columbia Records co-chairman will fit into the new Sony regime is unclear, though his comments seem to come at an opportune time… CEO of Hip-Hop Since 1978 management firm, Gee Roberson, has been named chairman of Geffen Records, he will report to Jimmy Iovine… Elsewhere, the social streaming-music site Turntable.fm is attracting a lot of new users and getting increased attention, though some are wondering if that will also mean scrutiny from content owners, as they do not have licenses from any labels. The company maintains that it falls under the protection of the DMCA, similar to how online radio service Pandora operates without licenses… And Best Buy is reportedly preparing to launch a new service called Music Cloud in the U.S., which as the name implies will be a cloud-music service – the company already operates a similar service in the UK called My Music Anywhere; agreements with all the major labels are said to be in place.
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Musical Chairs
Columbia Wins
As reports come in, well-respected A&R veteran Ashley Newton will be staying in the Sony Music family, transitioning from RCA to Columbia Records. We were alluding to Newton in our Aug. 20th post: “Which Head of A&R is making a jump to another label? Is the move to replace a soon-to-be exiting creative head? Inquiring minds want to know…” As Sony Music ruler Rob Stringer and Columbia Records head Steve Barnett were orchestrating Newton’s transition, Warner Bros. Records was indeed courting Newton in the last minute and insiders share that the bunny was offering a 7-figure annual salary to the seasoned exec. With a new A&R player in the Columbia fold, how does this affect Rick Rubin’s role at the company? Meanwhile, what’s going on at the Amanda Ghost-helmed Epic Records?…
In The Mix: Steve Moir, Freelance Whales, Pete Giberga and Kevin Day…
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