Modular Records dancing away millions

July 30, 2008 1:35 p.m. by Andrew Winistorfer

Modular Records (the label that dance bands like Cut Copy, Muscles, the Presets, New Young Pony Club, and the decidedly un-dancy Wolfmother and Jack Johnson call home) has reportedly posted losses of $5.9 million at the end of 2007. That’s not quite Sony/BMG numbers, but for a smaller label, that kind of money is astronomical.


The label’s head honcho, Steve Pavlovic said that he expects the losses to go down as newer records the label has put out (presumably Cut Copy’s) begin to start selling more copies.


Apparently this guy is unaware of illegal downloading. Banking on indie dance bands (and Wolfmother!) to get your label back in order is a risky bet that could easily blow up in his face. [Daily Telegraph]

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11 Responses

July 30, 2008 at 1:37 p.m.

Didn't realize they were losing millions. Ouch.
July 30, 2008 at 4:46 p.m.

yeah this is surprising
July 30, 2008 at 5:58 p.m.

That's a shame. They're a good label.
July 30, 2008 at 8:17 p.m.

very sad.. I wish the best as an artist, makes me freak out at the opportunity in the toilet if this label or another respected one goes into the toidy. I love their artists...
July 30, 2008 at 10:29 p.m.

Not $42 million a quarter, but still a lot of money. Too bad.
July 31, 2008 at 8:58 a.m.

too bad. any label that has Muscles is ok in my book.
August 1, 2008 at 3:28 a.m.

it's not all that meets the eye, they're running a dodgy business, that Pav guy has already been bankrupt once, i'm sure in the 3 years of no travel the guy worked out a way to hustle the figures for his advantage. sad but true, modular are c**Ts
August 2, 2008 at 12:47 p.m.

they're f*cked dude
August 12, 2008 at 2:15 p.m.

not many artists recoup from their first album, that happens once you get to your second and third albums. most of the artists on modular have only had one album.
August 25, 2008 at 2:58 a.m.

For More Headlines check out MODULARPEOPLE.COM
September 1, 2008 at 3:07 a.m.

ha. modular's response: www.modularpeople.com

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