Even journalists have a sense of humour... Under the headline "You Just Haven't Earned It Yet Baby" - the business column in todays Guardian Newspaper ( UK left of centre broadsheet ) there is a slightly tongue in cheek analysis of the woe's at Sanctuary central. here's the most main section -
Notebook: Morrissey could analyse Sanctuary
Here's a little game for Sanctuary's suffering shareholders, Which lyric by Morrissey - the company's most famous client, best describes the group's current plight.
Heaven Knows I'm miserable Now and Still Ill are far too obvious. I Don't Owe You Anything gets marks for irony, given Sanctuary's pile of debit, indeed lets hope Cemetery Gates is premature. There is a light that never goes out is optomistic, but frankly Stretch Out And wait chimes with the inevitability of Sanctuary's announcement for all the chatter, no bid has materialised.
Now Warner Music has walked, life looks very grim indeed for little Sanctuary. Yes Yes, all those titles were by The Smiths, rather than Morrissey, the solo artist on Sanctuary's books, but thats rather the point here. Building a business on the music industry's retreads is a model that has never been shown to work.
you can get more details of the Sanctuary decline here:
No refuge for Sanctuary as bid talks fail - The Guardian
and here:
Pop goes the label - The Guardian
it must be a game they play in the office - there is an article on the same page about retail recovery titled -
"Reasons To Be Cheerful"
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· No refuge for Sanctuary as bid talks fail
· Pop goes the label
· Misery surrounds Morrissey's Sanctuary as shares tumble
· More News/Media stories
· More Index stories
· Also by davidt
I know that six months is a long time... (Score:0)
My Life Is A Succession Of Labels Going Bankrupt (Score:1)
(User #8448 Info)
Attack! (Score:1)
Was Morrissey really in search of bands to release them on "his" label? If Sanctuary goes down, what will happen with Attack?
(User #152 Info | http://worldofabrahan.com/)
He packed up and left? (Score:0)
The Credit Suisse of the music industry... (Score:2, Insightful)
If this is in direct reference to Moz, you, "journalist", are not only a hack, but a cock!
I guess the Sanctuary/Morrissey romance was only meant to burn twice as bright/half as long.
(User #80 Info)
What about those other bands in Sanctuary? (Score:1)
Allman Bros. Band
Robert Plant
Megadeath
Janes Addiction
Kiss
Wu-tang Clan, and all the artist in Sanctuary. Why are these bands never mentioned?
They are well known.
What about the Boz Boorer Song Writing Deal or whatever.
None of these bands have financial troubles with the label?
(User #11301 Info)
buy stock now! (Score:1)
(User #14525 Info)
"Heaven Knows I'm miserable Now.......... (Score:1)
Doesn't usually stop them.
(User #7241 Info)
I can't remember (Score:1)
Basically, if they declare bankruptcy of the publishing side, the whole company is in jeopardy
As things stand with Moz, is it not conceivable that he bought Attack and has total control of the label? i.e. Sanctuary are only there in name and perhaps contracted to handle some business dealings, but not to interfere anywhere else
However, like I said, business dealings are a staple part of eternity in hell for me, I really don't know how such an agreement would work. Perhaps some entrepreneurial soul could enlighten me.
(User #14229 Info)
Re:I can't remember (Score:2, Interesting)
Unfortunatly,I have so little insight into how a business model for a company like this works. I suspect that with such success they were having, to have risked this kind of loss makes me wonder about any conviction they really had in making Sanctuary lable a steadily profitable success. I think Morrissey would atleast make sure people hired cared about making the idea work, not just personal gain. Those whom think about the broad context in making good decisions, not just "target market" in a box ideas.
I have so many idea's on what went wrong, but thats what people naturally do when they see a ship sinking from the outside. Like you, someone who has more knowledge could give us more insight.
But I am always the first to point a finger and just yell "greed".
(User #7664 Info)
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