More On Changes At The Orchard
- Staffers shared privately with Hypebot that CEO Greg Scholl's
exit and yesterday's layoffs came as a complete surprise to most inside the company and were a big hit to moral. - Investors were also less than thrilled by the changes. The Orchard's stock fell 12% yesterday during a mostly flat day on Wall Street. You can track today's progress in the Hypebot music industry stock widget in the right column of the blog.
- The rumor mill has Scholl landing in a top position outside of the music industry.
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Digital is dying, sadly. Ugh! More fucked up news for artists.
@Jim I completely disagree. Digital is on the rise and fast. Majors dont really know what they are doing in the space, and the distance between majors and unsigned artists is getting a lot smaller. Services such as http://routenote.com are really allowing unsigned and independent artists with the opportunity to make a name for themselves and profit.
Digital is not dead. Steven Finch is correct. Digital is only just starting to gear up. In fact, it’s just opening it’s eyes. If you look closer at the initial announcement you will see that Danny Stein (already an Orchard and eMusic Director) is taking the reins. His rock solid work at eMusic (and The Orchard) has certainly raised the company profile and profits. Stocks rise and fall, fall and rise…The Orchard supplies 730 store-fronts and mobile carriers. Change and movement is a natural process of evolution.