[78-L] Another one bites the dust

[David Lennick]

Bye bye, Rhino..

http://www.variety.com/article/VR1118009163.html?categoryid=16&cs=1

Rhino Records lays off 30-40
WMG unit attempts to change with the times
By CHRISTOPHER MORRIS

In the latest indication of the shrinking market for compact discs, Warner 
Music Group's catalog arm Rhino Records laid off between 30 and 40 staffers on 
Thursday.

Job losses came in all departments, including A&R, marketing, promotion and 
publicity.

A statement from Rhino cited a "fundamental transformation of the physical new 
release and catalog business" as a reason for the cuts.

Company said Rhino will evolve into an entity that "handles WMG's global 
digital catalog initiatives, film, TV, vidgame and commercial licensing, and 
name and likeness representation for legendary artists."

Move comes as sales of physical recorded music continues to decline steeply. 
Rhino has long been considered the industry standard for boxed set 
retrospectives, but demand for such high-ticket items has been strangled by the 
music market slump and shift to digital sales.

The Warner unit has been trying to change with the times, placing more emphasis 
on digital-only offerings, including a recent virtual boxed set devoted to the 
U.K.'s Factory Records, and name-and-likeness pacts, such as those made with 
Frank Sinatra's estate and the Grateful Dead.


---------