No Echo from Echo
August 19, 2008 5:22 AM Subscribe
The Echo Label (splash page, site offline) a subsidary of Chrysalis
, is "an independent creatively driven record company which nurtures artists before they sign deals with major labels." Blaming a "challenging macroeconomic environment" for hampering sales of CDs, a decline in synchronisation revenues from music used in TV programmes, films and advertisement, Chrysalis recently warned its investors that the Echo Label has performed below management expectations
, with "marginally higher" write-offs for new unproven artists, noting that it had not "upstreamed" any artists to major labels in the third quarter.
posted by three blind mice (26 comments total)
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