Weeping Buddha Records

I recently had an interview with one of the best producers in California, Richie Stites, a veteran in the music industry. Richie Stites has produced albums with everyone from Michael Jackson, Outkast, Sleepy Brown, Tupac, to Tim Armstrong, The Transplants, Hollywood Undead, George Clinton, Candyman 187 and Optimus.

I requested an interview with him and he graciously accepted my invitation. I posed a few questions concerning negotiation deals in the music industry. Here is the result of our discussion:

Please tell us a little bit about your current company, Weeping Buddha Records, and what you are working on?

Weeping Buddha is a label comprised of four companies providing production, development, marketing, promotion, and tour support for artists.  Besides producing and creative development I also oversee all A&R administration for the label, which includes album budgets, backend payments, sample and side artist clearances for soundtracks, and compilation albums. 

In past negotiations, what were some ways that you were able to separate the people involved from the problem or issue being negotiated?

It is important to remain calm and stay focused on the key points of the negotiation.  Compromise enough to make sure that you get what you want, without giving in to all the demands that are being made.  The client needs to trust you and know that you have their best interest at heart, which is very important!

Finally, creative people such as music artist can bring a lot of emotions to a negotiation. What are some ways to effectively deal with potential negative emotions?

Creative people such as recording artist will almost always bring a lot of emotions to the negotiation.  The important thing we have found is to let the artist know that we understand their vision and that we have a common goal of doing what is best for their career. We present the outlook of possible outcomes of the situation, if they can look at it calmly and clearly, the management/production viewpoint, so that he or she can have a clearer understanding of both sides.  Often by repeating back what they have said and then offering positive solutions and alternate ways to look at it, we then make sure that they know that we are on the same side and for a common goal, which is the success of the artist.

Once upon a time EMI was the most successful of the Big four record labels, to now being split in half and sold off to two of its former competitors, Sony and Universal for $4.1 billion. According to Billboard.biz, Sony has purchased EMI Music Publishing, while the overgrowing Vivendi/Universal Music Group picked up the crown jewel, the EMI recorded music division, which includes the works of the Beatles, Pink Floyd, and a roster that currently includes Coldplay, Gorillaz, and Katy Perry.   

With the addition of EMI's 1.3 million song copyrights, Sony stands to become one of the largest competitors in an industry where six years ago it was far from a dominant force.

Considering Terra Firma bought EMI as a whole for $5.2 billion in 2007, the $1.8 billion Universal/Vivendi spent to purchase EMI's recorded music division is a bargain, even now that music sales are down significantly. Without getting too deep into the business details, the deal essentially means EMI will continue running as they have been in recent years, except now they'll be better managed.

No more Citigroup bankers who wouldn't know a hit song if it punched them in the face. People who actually understand the music industry are back atop of the corporate ladder. Universal has put together the most talented group of executives in the industry today.  This can only be a positive for the artists and executives at EMI.

UMG provided the press with quotes from artists and managers expressing their thoughts on the new developments.  As Mick Jagger said in a statement following news of the sale, "This is a very positive development and I particularly welcome the fact that EMI will once again be owned by people who really do have music in their blood."

Christman, E. (2011). Retrieved from: http://www.billboard.biz/bbbiz/industry/record-labels/emi-publishing-goes-to-sony-label-to-universal-1005508552.story 

This diva is strong enough to bear children then get back to business!

Is it too soon for Beyonce to get back to work? According to the New York Post, Jay Z is working on an epic world tour for Beyoncé, having approached Live Nation about a $150 million deal for his wife to tour the world on what would be a blockbuster comeback since giving birth to their baby daughter, Blue Ivy Carter, back on January 7.

Sources say that a few weeks after the baby was born, Jay-z approached his buddies at Live Nation to propose a $150 million deal for the mega star to go on tour later this year.  Beyonce is currently in a joint management deal with Jay-z’s Roc Nation as well as Live Nation after she split with her father/manager early last year.

Whether the tour will actually happen is still up in the air with Live Nation allegedly making a lower counter offer, but until that moment arrives, Beyonce is returning to the stage in just a few months.  The new mother’s first performances since Blue’s birth are scheduled just in time to kick the summer off right at the Revel Resorts in Atlantic City, New Jersey’s new Ovation Hall for three nights from May 25-27, with tickets going on sale on April 6 at 10 a.m. on Ticketmaster.

Tickets go on sale April 6th for dates May 25th, May 26th and May 27th.

Bringing Beyoncé back to the masses isn’t the only thing that the super couple has been working on as of late. The power pair has been seen lending their support to President Obama’s re-election campaign.

Hans Rosling's Insights on Ending Poverty

Hans Rosling, doctor and researcher, seeks to change perceptions about the developing world and dispel myths and common misperceptions. In his latest TED Talk, Rosling shows trends in health and economics, ultimately seeking to explain how countries are pulling themselves out of poverty. The dimensions of development, or the tools necessary to move away from poverty, include human rights, environment, governance, economic growth, education, health and culture. He asserts that economic growth is the most important means to achieve development, but should not necessarily be the most important goal. The primary goals should be the promotion of culture and human rights.

As the world changed over time, most developing countries moved towards being the developed countries and demonstrated trends of low fertility rates and high life expectancy. The only real exception to this trend has been Africa, which still exhibits large families and low life expectancy due to the HIV epidemic.  The trends of child mortality rates and GDP per capita show that the countries in the world slowly grew richer and by the 20th century, for the first time, more than ninety-percent of children survived the first year of life. 

Compared to the U.S. and Sweden overtime, it becomes apparent that countries in Asia, Latin America, and the Middle East have achieved advances in health, education, and the possession of human resources faster than developed countries of the West. In the emerging economies of the world, health progress is preceding economic progress.

 Rosling then moves on to discuss poverty, how to get out of poverty, and finally how to move away from poverty to reach permanent development. When an individual is in poverty, everything is about yields—it is about survival and having access to food. To get out of poverty, technology becomes essential. However, for a country to permanently develop, there is a need for a market and human resources specifically schools, health, infrastructure, credits, and information.

Drought is a function of nature.  Famine is man-made.

Rise In Music Sales Since 2004

Great news, U.S. album sales have risen for the first time since 2004.   According to figures published by Nielsen and Billboard total album sales have increased and digital sales have defeated physical music sales for the first time in units. 

Digital music  sales have beat physical music sales, accounting for 50.3% of all music purchases, in units, in 2011.  According to Billboard total album sales hit 330.6 million units, compared to 326.2 million in 2010. That’s an increase of 1.3%. That may seem small but considering how sales have been since 2004, any improvement is a big deal.

As expected, British singer Adele's "21" was the top-selling album in the United States last year at 5.82 million copies, the highest annual tally since Usher's "Confessions" sold 7.98 million copies in 2004.  Adele's "Rolling in the Deep" was also the best-selling U.S. single of 2011 at 5.81 million downloads.

The small increase in the world's biggest music market will be welcome news to the record industry after years of declining revenues.  The information for the report was collected from the Nielsen SoundScan, a data system that tracks all music sales, downloads, and streams.  The information also includes hard copy sales from major retailers such as Amazon.com. 

The music industry has a long way to go towards recovery.  This increase is due to the Internet and the online music culture which has made it easier for listeners to find and purchase music.  Grooveshark, Pandora, and Spotify are streaming services used to offer legal ways to get music. 

Music will always live on, people continue to search for new music and support their favorites no matter how dire the industries circumstances.  The music industry has a long way to go.  

Sniderman, Z. (2012). Retrieved from: http://mashable.com/2012/01/06/music-2011-nielsen-soundscan-report/ 

"Crowd Acceleration Innovation"

TED’s Chris Anderson gives an Inspirational talk about the rise of web video and how it has become a worldwide phenomenon he calls Crowd Accelerated Innovation.  Chris says that this new self feuling cycle of learning could be more powerful than print. The twenty first century is not about flying cars and garbage collecting robots, as was envisioned by the people of the past century.  it is about connectivity and only through connectivity can we share ideas and understand each others' culture and mentality. I believe that only by sharing ideas, thoughts, and emotions can we better understand each other. 

I just wish we had youtube and TED back when I was growing up. They should really be showing these videos in schools. If people see cool stuff, they might want to do it. Or someone could say something that really strikes a cord and inspires them. It's happened with me I know.  It is truly exciting to imagine a future that constantly evolves as people learn and innovate together. 

You can connect with so many people through video by using Facebook and Twitter to share ideas.  This is an internet revolution, and we as a people are constantly evolving at a faster pace. 

I really love when Chris says " we have to open up.. it is by giving away what you think is your deepest secret that maybe millions of people are empowered to help improve it..".  It is an opportunity to tune up to a new level of consciousness and redefine our self-image and what we are capable of.  Here is to the era of connectivity and heightened human potential.

Absolutely inspiring! And great to see that TED is led by true visionaries who want nothing more than to make us all visionaries. 

Anderson, C. (2011). How web video powers global innovation. Retrieved from:  http://www.ted.com/talks/lang/en/chris_anderson_how_web_video_powers_global_innovation.html 

The bash at the Hollywood Bowl on October 15, 2011 was to celebrate President Bill Clinton's birthday and celebrating the 10 year mark of the William J. Clinton Foundation.  The event began with a surprise performance by Stevie Wonder.  President Clinton was seated with his daughter Chelsea and wife Hillary, who is the Secretary of State. 

A long lineup of celebrities paid tribute to Bill Clinton saluting his philanthropy and birthday.  Sitting front row with his family, U2’s Bono and Edge, Lady Gaga, and Usher performed some of their many hits for the president and his family.  Tickets sold to the public ranged from $50 to $550, and premium seats for $1000 to $5000 on the foundation website.  This event was streamed live exclusively on Yahoo!. 

The 42^nd President of the United States used the time in between acts to thank everyone for their time, effort and Charitable donations and stated the accomplishments and milestones achieved through the work the William Jefferson Clinton Foundation.

Tribute was also paid to the Secretary of State Hillary Rodham Clinton for her efforts pertaining to the humanitarian crisis that is what too many children around the globe have to face in their every day lives.

The President also thanked a who’s who of Hollywood most celebrated actors and artist for their Fund Raising efforts. The event signified the difference a small donation would make in granting children in Third World countries health care, education, and an opportunity to have a purpose in life, with an understanding that they are not less deserving than children living in any western country.