Universal Music Gets A New CEO... Who Thinks CDs Are The Future
from the wow dept
"There's no one in the record company that's a technologist," Morris explains. "That's a misconception writers make all the time, that the record industry missed this. They didn't. They just didn't know what to do. It's like if you were suddenly asked to operate on your dog to remove his kidney. What would you do?"How does any board of directors let that person stay in place as CEO, in charge of guiding the largest music label in the world into the modern era, when that CEO admits he's so clueless on the most important thing impacting the industry that he doesn't even know who to turn to to help?
Personally, I would hire a vet. But to Morris, even that wasn't an option. "We didn't know who to hire," he says, becoming more agitated. "I wouldn't be able to recognize a good technology person -- anyone with a good bullshit story would have gotten past me." Morris' almost willful cluelessness is telling. "He wasn't prepared for a business that was going to be so totally disrupted by technology," says a longtime industry insider who has worked with Morris. "He just doesn't have that kind of mind."
Well, now, it looks like Universal is finally getting a new CEO -- but not because Morris has finally been given the boot -- he's still sticking around and gradually easing out of his role as he "mentors" incoming CEO Lucian Grainge, who has headed the company's international division until now. So, what's Grainge's take on the future?
"I believe that the CD will out-survive me as a format," Mr. Grainge said in an interview.Yeah, good luck with that. Between you and Warner Music opting-out of online streaming services, it's as if the major record labels are simply trying to accelerate their own demise. Have they taken out life insurance policies on themselves? In the meantime, Vivendi, who's watching over Universal Music these days?