The record industry is about to kill itself and murder its best friend.
Phil Spector, who knew?
The labels are in the process of trying to eliminate radio's royalty exemption which could exceed $1 billion -- 0r 5% of radio's revenues according to Deutsche Bank's Drew Marcus.
This would be tantamount to murder for radio stations.
The royalty tax would help cripple a declining radio industry at exactly the wrong moment in time.
By pushing for this money the record labels would also be committing suicide because radio has options to cripple them if it has the guts and because holding your best ally hostage&hellip
- Everything is for sale in radio. So where are the buyers?
- The reason John Malone has to have iHeart. It's not for the radio
- Why Wall Street is hating on Beasley
- Lew Dickey's new company has a change of plans
- Liberty wants to add 2 more media mergers to the iHeart takeover
- CEOs publicly talk up radio’s future but secretly look to diversify
- Are any radio groups safe? These 3 are bullet proof
- Entercom really is in trouble and, yes, David Field could even lose the company
- Cumulus is now onboarding new people to fire a large number of existing employees
- While Cumulus was pivoting to digital, Westwood One just got hit with major defections