E1 Buys IndieBlu Labels Artemis, V2, Light & More
Consolidation within the India sector appears to be heating up. Last week Concord acquired the massive Rounder Records catalog and this week E1 Entertainment (formerly Koch) has acquired the rights to more than 25,000 master recordings and a related publishing company from IndieBlu Music Holdings.IndieBlu was formed in April of 2009 when it bought the assets of Sheridan Square Entertainment at a foreclosure auction. IndieBlu’s roster includes Artemis, V2, Light, Compendia, Vanguard Classic, IndieBlu Records, Spitfire, Tone Cool, Triloka and Ropeadope. Eight IndieBlu staffers will join E1's Nashville office including IndieBlu president Michael Olsen.
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How is it that this so-called consolidation is good for artist(s)? Does anyone really think that a Bigfoot like E1 is going to put support, money and resources behind the “unknowns or/ Baby bands”….no matter how good and new they are?
Is EMI artist(s) better off when BMG or WBM takes over and bring them all under a giant, dark umbrella? And some of these indie-labels E1 have procured or are on the block are god-awful acts pared with really good acts that when combed over will be mis-marked, poorly perused, barley promoted and left to die on the vine..so to speak. How is this good?
We should understand by now that these companies don’t want any competition or up-start getting in the way of profits.
In light of the giant upheaval in the US and the world economy, and what the corporate-state has done to all of us,it is really remarkable that we applaud the continuation of mergers, monopolies, and hyper-consolidations. You wont get better, safer flights, decent rates and service because United Airlines and Continental merged. You won’t cure the housing and foreclosure crisis by having fewer and fewer speculators own more and more foreclosed homes.
We are all mad to think that we will get this different(better)result when we keep doing the same old same ol’… The music industry has been killed-off by these same free-wheeling genies, demi-gods and greed mongers who kept screwing up and driving the whole shabang over the cliff and have nothing to do with promoting good music and commitment to the basic business at hand.
Take a note from the wise-man who once said “small is beautiful..”