News today has emerged that Clive Davis was 'fired' from Sony BMG. What's really come to pass, Clive's been demoted, not completely fired. Certainly retirement is an option but with the likes of someone like Clive Davis, retirement not likely to happen. For Mr. Davis, work is his life and he'll be plugging away at some form of musical production endeavor until it's time for him to nestle in that padded casket and the crowd sings, "When the Saints Go Marching In".
Louis Armstrong, video c/o xakyxak
According to the article posted in the New York Times his stepping down from his previous position a decision that Sony BMG came to after much evaluation of today's music industry. The times they are a changing, that holds true for the music business as in any other industry. Sales of CD's are notably down and the eye must turn to the production and fixed costs arena to grapple a handle on the ability for a company to retain a profitable status.
Barry Weiss, currently the chief of the company’s Zomba Label Group, is now being named as Clive's successor, and will be the reigning chairman and chief executive of the BMG Label Group. Renowned hit-maker and star-creator, Clive Davis is being replaced by a younger, more modern minded executive. Bruce Weiss purportedly is much more involved in the new digital era we are seeing music take. He's got the savvy and the know-how to take the company in a fresh and more modern direction. Apparently adhering to the ways of the past was no longer working for Sony and hence, time for a change. But hell, we have to consider Clive's like 100 years old - that adage about 'old dogs and new tricks' seems to apply.
Barry Weiss is known for having an ear toward the pop charts but also an eye on controlling costs. It seems having the creativity gene not the only necessary quality in today's music business, the bottom-line must be highly considered as well. Clive Davis has not been one to watch the expenses involved in promoting those upcoming and established icons he's worked to develop - he's known for the costly videos and productions to make it happen for the stars in his favor. (I guess that did not apply to Taylor Hicks.)
Mr. Davis' new title is reportedly, Chief Creative Officer. The information on his package compensation information hasn't been released, but obviously it will be less than the $10 million dollar package he was granted under his past position.
I doubt we need shed a tear for Mr. Davis, he's had a great ride and much success in his time in the industry. Too, regardless of the demotion, I'm sure his wife and family won't have to concern themselves much about how they're going to survive. His new package most likely will top what most of us meager peons manage to scrape together in a lifetime.
So here's to Clive, and to Weiss, out with the old and in with the new.
Spinal Tap. "Give Me Some Money" video c/o TruM3t4l
(If you're wondering about the connection between Davis and Spinal Tap, look it up.)