Article Abstract:
Independent sound recording labels have established original marketing tactics to compete in the $40 billion music business. The consolidation in the industry has displaced many music executives and artists who have opted to establish their own labels. Steve McKeever, formerly in charge of Mojazz, Motown's defunct jazz label, has used his innovative ideas to good use when he started his own label, Hidden Beach. On its first year of operation, it has gained three Grammy nominations which quickly establshes itself as a potent creative force within the industry. The independent movement in 2000 is also evident with Jive Records' high album sales.
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Article Abstract:
Theater operators in the US are cutting down on the number of megaplexes construction due to several problems, including the slow slate of films in the first quarter of 1999. AMC Entertainment, the No. 4 theater operator in the US, announced that it will reduce the number of its planned megaplexes due to investors' concerns regarding overbuilding. Movie theaters totaled 34,193 in 1998, and is projected to grow 9% by the end of 1999. Stocks of theater operators have also been affected, including Loews Cineplex Entertainment's share price, which fell 37% from the previous year.
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Article Abstract:
Walt Disney Co has launched its plans to return to growth following a significant 36% decline in annual earnings in the past two years to $1.3 billion in 1999. The entertainment company had a 20% growth in the first 13 years of CEO Michael Eisner's 15-year tenure. Amongs it plans are the reduction of overall costs, implementation of performance-based payment scheme for managers, increased international marketing and revival of the consumer products unit.
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