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.
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