These labels need more competent people to scout the new artist pool. Lars says one in ten new artists make it. In an interv iew with ABCnews.com, Tom Silverman of Tommy Boy Records states that part of his testimony to congress was that less than 1% of releases are profitable. Unless I'm missing something this seems to be a staggeringly poor success rate. If this is actually the case then I believe they are gambling too much and too often. This must be where that extra $10 or more per album goes. To pay for their losing bets. They need to shape up their operations instead of being reckless with consumer money.
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These labels need more competent people to scout the new artist pool. Lars says one in ten new artists make it. In an interv iew with ABCnews.com, Tom Silverman of Tommy Boy Records states that part of his testimony to congress was that less than 1% of releases are profitable. Unless I'm missing something this seems to be a staggeringly poor success rate. If this is actually the case then I believe they are gambling too much and too often. This must be where that extra $10 or more per album goes. To pay for their losing bets. They need to shape up their operations instead of being reckless with consumer money.