The Global Jukebox: The International Music Industry

By Robert Burnett | Go to book overview

Postscript

One of the things that is exciting and often frustrating about studying the entertainment industry is that things are always happening. It’s hard for anyone to always be up to date. Deals are being made, mergers are being planned, new cultural products are being hyped. The summer of 1995 was certainly no exception with several major deals being made that have major consequences for the entire music industry.

First, rumours were rampant that Matsushita was tired of the entertainment business and was trying to sell MCA Movies and MCA Music Entertainment. Polygram made a secret bid but were beaten out by the Seagram Company, the Canadian liquor manufacturer! Seagram’s have since stated that they are interested in acquiring more media-related holdings.

Second, the George Michael vs Sony Music conflict was resolved with Michael winning his freedom. Essentially Sony released Michael from his recording contract to sign with DreamWorks SKG and Virgin Music, in return for a $40 million release fee. DreamWorks is the newly founded entertainment company started jointly by music mogul David Geffen, movie director Steven Spielberg and movie producer Jeffery Katzenberg. The deal could be good for all the concerned parties. Sony gets cash and the right to release a greatest hits package, Michael gets a cash advance and can start making records again, the lifeblood of any artist. The big winner could be DreamWorks who get a highly successful artist to launch their new label. The deal might set a precedent and could start a bidding war for artists between DreamWorks and other music companies. DreamWorks has already signed a distribution deal with MCA Music, who are in the process of improving their global distribution system.

Third, Michael Jackson’s new compilation album of old and new material HIStory went straight to number one on the US music charts, only to be bumped down after three weeks by the soundtrack from Pocahontas, the Disney film. Sony is rumoured to have spent $30 million promoting the Jackson album and were hoping for better sales figures.

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The Global Jukebox: The International Music Industry
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Figures ix
  • Tables xi
  • Acknowledgements xiii
  • Chapter 1 - Introduction 1
  • Chapter 2 - Music and the Entertainment Industry 8
  • Chapter 3 - Music as Popular Culture 29
  • Chapter 4 - The Music Industry in Transition 44
  • Chapter 5 - The Production of Popular Music 64
  • Chapter 6 - The Consumption of Popular Music 81
  • Chapter 7 - The American Example 99
  • Chapter 8 - The Swedish Example 120
  • Chapter 9 - Future Sounds: a Global Jukebox? 138
  • Postscript 149
  • Bibliography 153
  • Index 166
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