ShortNotes: Rack-N-Roll, Joe Moscheo, and Edgar Bronfman Jr.
The Rack-N-Roll team on the 10th hole at the 2009 Audio Masters Golf Tournament, serving margaritas and an audio blast from the 80s. Pictured (L-R): Tom Burns, Ashley Dennis, Ian Wolczyk, Rob Dennis and Holly Keim
The Rack-N-Roll Audio crew has been busy this summer. They have been on the road recording live performances ranging from arena shows like 3 Doors Down tourmates Theory of a Deadman to artists at Bonnaroo. Rentals have been hopping as well, with recent projects including Creed, Bob Rock/American Bang, and Matt Serletic/Gloriana. Rack-N-Roll’s studio, The Spank Factory, has recently hosted clients such as Mindy Smith, The Dirt Drifters and Mark McKinney who is signed to Rack’s label, Super Loud Music. McKinney, currently on his fifth consecutive Top 10 in Texas, will release his sophomore album, Middle America, in August.
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Joe Moscheo is retiring from MCS America on June 30 to pursue other interests/projects, and opportunities. In an email to MusicRow and others, he says, “I thank all of you for your loyalty to me over the years, and for your support, and to MCS for giving me this opportunity for the past 7 and 1/2 years. It has been a pleasure to serve you and to work with you.”
Janice Bane will continue to serve as General Manager of MCS, and she can be reached at (615) 250-4600 or janice.bane@mcsamerica.net.
Moscheo can be contacted at jomoskayo@comcast.net, (615) 513-2353 and www.joemoscheo.net
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In a recent interview with London’s Financial Times, Warner Music Group head Edgar Bronfman Jr. discusses his relocation from New York to London, and the ongoing possibility of a merger with EMI. Bronfman explains that the move is more about his family than his job, saying that he will split time between the two cities, and the presence in England should help his oversight of international business.
He also discusses the $1.1 bn in new bonds Warner received in May to repay bank debt coming due in 2011. The bond issue reignited speculation about a possible merger with EMI. When asked about that, Bronfman told the FT: “We’d like to achieve a happy medium where the bond market doesn’t feel we’re going to go crazy with acquisitions, which we certainly won’t, but the company has the flexibility to do acquisitions which are attractive for both equity and debt holders.”
Among other topics: Bronfman and his private equity backers have changed Warner’s business model fundamentally, but will continue refining it. On the digital front, he says WMG’s Atlantic label is the first in the US to generate more than half its revenues from online and mobile sources. Bronfman also points out that Warner is “more selective” about digital partners following its early willingness to work with numerous new companies which lead to many writedowns. He says WMG’s reduced A&R budget has led to “gained market share because we focused the A&R budget on the artists we believed in.” The music company’s 21% US market share last year was its highest in a decade.
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