|

Posted in industry | music on April 25, 2008

Starbucks steps back from music business

Starbucks

Starbucks Corp. will pull back on its entertainment division, turning over the day-to-day management of its Hear Music record label to Concord Music Group.
Starbucks started the Los Angeles-based music label in March 2007 and had signed such acts as former Beatle Paul McCartney. Concord, of Beverly Hills, Calif., will assume responsibility for current and future Hear Music artists.

Ken Lombard, who ran Hear Music for the past year, "has left the company to pursue other business interests," said officials at the Seattle coffee giant (NASDAQ: SBUX), in a statement. [Business Journal]

The announcement came with news that their stock is not doing that great anymore.

Tags: Paul McCartney, Starbucks
posted at 9:07 AM on April 25, 2008 in industry | music | Comments (6)

Comments (6)

Shit. I guess this means we won't be hearing the new Antigone Rising rekkid anytime soon. ; (

Posted by Anonymous | April 25, 2008 9:27 AM

well that lasted long

Posted by Anonymous | April 25, 2008 11:22 AM

Starbucks isn't interested in expanding minds, just the bottom line. Otherwise, they'd be giving away MP3s, sponsoring tours, investing. Rather, they just want to cherry-pick. As Gary Borman says, on no longer favorable terms.

Posted by Bob Lefsetz | April 25, 2008 1:54 PM

Just yeaterday I noted my local Starbucks doesn't have a single record and just one lonely download card left in stock - the business has obviously gone to seed.

And LOL @ 9:27.

Posted by joly | April 26, 2008 1:57 AM

that is a fantastic photo.

Posted by KittyWright | April 26, 2008 9:56 PM

Leave a Comment

What's Going On Today? BV Events Contests

Recently

Recent Comments

Recent Galleries

Most Popular

Recent Features

Browse Categories (or Browse Tags)

Blogroll

Blogroll Links

More Blogroll Links »

Dwnld & Stream