Here are two news on the latest activities of major labels regarding their declining business.
Major labels have begun turning their heads into new businesses. These are the things that should be done to maintain their role in music business with their ever-fast-declining record sales.
Sony BMG as stated in the former link is trying to make some capital by digging out its vast archieve. Photos are always valuable assets, including for this big company. Now, Sony BMG are also marketing its historical photos to the public and selling them through the internet.
The company is actually benefited by its movement in the industry by acquiring many companies in the last decades, merging its resources. It includes the photo archives of Bob Dylan and other popular artists in the 60’s and 70’s. Click here for details in NYTimes.
Meanwhile, Universal’s classical music division Universal Classical and Jazz has also span their business. They set foot in artist management and production management under the name of Universal Music Classical Artists Management and Productions. The name has also indicated that this management office will only manage classical artists as its clients. Click here for more info, also in NYTimes.
So, that’s how they face adversity. We are indeed facing a new era of music industry.