Pop will eat itself : Simon Perry: Schemes, dreams & trivia

It was still a shock when George died. It was the last thing I thought he'd do - Angie Best

Pop will eat itself

8th April 2004 by Simon

As we are all very aware, record companies keep telling us that they are really hard done by, as their profits have gone down so considerably. They claim this is due to music piracy - many other claim different factors, such as the music they are pushing on the public being uninspiring, and frankly unwanted.

PopBitch comments on the liquidation of Telstar Records could point to the reason the gross profit of some music businesses might not be as health as they could be.

Telstar Records brought us such classics as Chris
Tarrant’s mix album, Pan Pipe Moods and a single
by Hunter from Gladiators, so we’re sad to see them
go into liquidation this week. Co-chairman Neil
Palmre claimed it “Reflects the very serious
problems the industry as a whole is experiencing.”

But maybe it more accurately reflects a few
other factors:

1. Telstar’s A&R department spent a reputed �22
million in the last three years. Who did they
sign? Er… B*witched, Vinnie Jones, Claire
Sweeney and Victoria Beckham.

2. The company car park was jammed full of Aston
Martins, Porsches and Bentleys.

3. Telstar spent �65,000 on a party just to mark
co-chairman Sean O’Brien’s 50th birthday last year.
Sean wasn’t even around for this debacle - he’s
in Barbados for a couple of months.

4. Damon Dash is still chasing them for $1 million
studio costs for Posh’s ultra-expensive album.