Layoffs At Universal’s Interscope
A variety of sources are reporting substantial layoffs at UMG's Interscope Geffen A&M label group across several departments. Specifically identified were marketing executives Robbie Snow and Paul Orescan, along with A&R staffer Ryan O’Donnell, who recently signed Street Drum Corps.
The moves come alongside a sense that the economic downturn could be longlasting and just a month after substantial layoffs within other music related companies.
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The real question here is… is the economy to blame for the layoffs, of is the behavior of the labels/RIAA finally starting to have a negative effect on sales.
They will blame the “filesharers” but we all know that the “Free Model” can work if executed properly.
The majors are too greedy to even consider alternative forms of revenue streams and until they do, I think this type of headline will become more common.