Results for Mitch Bainwol

news

Music News

The London riots have hit the music industry hard. A North London warehouse owned by Sony DADC burned to the ground on Monday, and while Sony may have deep pockets, many of the smaller independent labels that stored stock at the facility do not. The fire destroyed CDs, DVDs and LPs distributed by the Pias Group. Pias serves over 160 indie labels including Domino, 4AD, Warp, Sub Pop and Chicago's own Thrill Jockey, which estimated a loss of $300,000 worth of inventory. For small labels dependent on merch sales to survive, it could be a fatal blow. A relief effort is underway at Label Love. Whether music fans' goodwill will be enough to keep these labels afloat remains to be seen.

Big changes are underway at everyone's favorite industry lobbying group. RIAA CEO Mitch Bainwol has announced he will cede the throne after a decade of leadership to become head of the Alliance of Automobile Manufacturers. He'll be replaced by Cary Sherman. Word of the change came in the form of a dumbfounding open letter, in which Bainwol proclaims a“turnaround”in the music industry's fortunes and cites some interesting statistics. He claims a 20% reduction in illegal filesharing last year and a 5-to-1 ratio of legal to illegal music consumption - numbers that Greg says fly in the face of all the stats he's seen on this. Bainwol also cites a 4% increase in revenue last month - no mention, of course, of the music industry's bottoming-out over the last decade.

Go to episode 298

Music News

The verdict is in: three members of the Russian punk band Pussy Riot have been found guilty of "hooliganism" and are sentenced to two years in prison. Pussy Riot caught international notice when they performed their song "Punk Prayer" in Moscow's foremost Orthodox Cathedral in February, calling upon the Virgin Mary to“banish Putin.”The Russian government responded with a Soviet-style show trial, making Pussy Riot the darlings of the West. Yoko Ono, Paul McCartney, and Madonna are just a sampling of the pop music illuminati who have publicly supported the group. Jim's impressed that in 2012, punk music still has the power to seriously rile governments. To those who think rock music is just entertainment, he says,“think again.”Greg points out that Pussy Riot aren't the first musical act to suffer serious consequences for politically charged music. They join a list that also includes Fela Kuti, Gilberto Gil, and The Plastic People of the Universe.

In other news, the RIAA's profits are way down according to their latest tax filings. Membership dues from the major labels fell 50% in two years, reflecting the hemorrhaging of the industry as a whole. Unsurprisingly, the RIAA's executives are still doing just dandy. President Carey Sherman and VP Mitch Bainwol each pulled down million-plus salaries last year.

Go to episode 352