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Hits (not good ones) just keep coming to the music industry
The hits just keep on comin’ to the music industry, but not in a good way. Earlier today, Hypebot published a depressing little roundup of industry jobs claimed by the recession. Among the carnage: layoffs at Epic Records, more layoffs at CBS-owned Last.Fm (20 out of 95 employees) and staffing cuts at Alliance Entertainment.
If you didn’t get the message, Hypebot also links to their post from a week back that reports on still more layoffs, among them Viacom (including 300 MTV workers), RealNetworks and Pandora (which slashed 14% of its staff in one go).
Maybe the music industry will lineup behind the bankers and automakers and start asking for bailout money. If this keeps up, pretty soon Chamillionaire’s gonna end up in Chapoorhouse…
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the music industry had real problems *before* the economy started needing diapers. i guess this will hasten their re-invention of their business model.