Warner Music Execs Cash “Obscene” Bonus Checks

Sep 20th, 2005 | By Joe Taylor Jr. | Category: Editorial

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Ritch Esra smacks down Lyor Cohen and the rest of the Warner Music executive team, for cashing $21 million in salary and bonus checks (three times the company’s net operating revenue, on paper, anyway) in the same year they dropped 93 acts and laid off over 1,600 workers.

Question:

What the heck were 1,600 people doing (or not doing) at Warner that they could let them go that easily? That amounts to a potential support staff of 17 people for each of the jettisoned acts! What could you do with your project with 17 full time employees supporting you?

Opportunity:

A lot of really talented, skilled, and experienced folks are “on the beach” right now. This is a great time to recruit some street team captains, advisors, or potential music managers.

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