Edgar Bronfman, Jr., Warner Music, and an Industry in Crisis
Author: Fred Goodman
Pubpsher: Simon and Schuster
Category: Business & Economics
In 1999, when Napster made music available free online, the music industry found itself in a fight for its life. A decade later, the most important and misunderstood story—and the one with the greatest implications for both music lovers and media companies—is how the music industry has failed to remake itself. In Fortune’s Fool, Fred Goodman, the author of The Mansion on the Hill, shows how this happened by presenting the singular history of Edgar M. Bronfman Jr., the controversial heir to Seagram’s, who, after dismantling his family’s empire and fortune, made a high-stakes gamble to remake both the music industry and his own reputation. Napster had successfully blown the industry off its commercial foundations because all that the old school label heads knew how to do was record and market hits. So when Bronfman took over the Warner Music Group in 2004, his challenge was to create a new kind of record executive. Goodman finds the source of the crisis in the dissolution of the old Warner Music Group, the brilliant conglomerate of Atlantic, Elektra, and Warner Bros. Records. He shows how Doug Morris, the head of Atlantic Records, rose through the ranks and rode the CD bonanza of the 1990s to enormous corporate and personal profit before becoming embroiled in an ego-driven corporate turf war, and how all of Warner’s record executives were blindsided when AOL/Time-Warner announced in 2003 that it wanted nothing more to do with the record industry. When the music group was finally sold to Bronfman, it was a ghost of itself. Bronfman built an aggressive, streamlined team headed by Lyor Cohen, whose relentless ambition and discipline had helped build Def Jam Records. They instituted a series of daring initiatives intended to give customers legitimate online music choices and took market share from Warner’s competitors. But despite these efforts, illegal downloads still outnumber legitimate ones 19–1. Most of the talk of a new world of music and media has proven empty; despite the success of iTunes, even wildly popular sites like YouTube and MySpace have not found a way to make money with music. Instead, Warner and the other labels are diversifying and forcing young artists to give them a cut of their income from touring, publishing, and merchandising. Meanwhile, the average downloader isn’t even meeting forward-thinking musicians halfway. Each time a young band finds a following through music websites, it’s a unique story; no formula has emerged. If one does, Warner is probably in a better position than anyone to exploit it. But at the end of the day, If is the one-word verdict on Bronfman’s big bet.
London 1665 is no place for Randal Holles, a former soldier in Cromwell’s army, now that Republican exploits are being ferociously condemned. Desperate for an escape from his execution, he sees no option but to accept the Duke of Wellington’s dubious commission – to abduct a famous actress and bring her before him.
The seventh daughter of the Sea King, Ekaterina is more than a pampered princess-she's also the family spy. Which makes her the perfect emissary to check out interesting happenings in the neighboring kingdom…and nothing interests her more than Sasha, the seventh son of the king of Belrus. Ekaterina suspects he's far from the fool people think him. But before she can find out what lies beneath his facade, she is kidnapped! Trapped in a castle at the mercy of a possessive Jinn, Ekaterina knows her chances of being found are slim. Now fortune, a fool and a paper bird are the only things she can count on-along with her own clever mind and intrepid heart.…
CONRAD THE GOOD serves as court jester to a most unworthy master: Lord Otto “the Witless,” who rarely appreciates jesting and acrobatics and more often rewards his good fool with a good whipping. So one night, Conrad flees, leaving Otto’s realm in search of a more enlightened master—taking with him only his noble horse, Blackspur, and his beloved, the servant girl Christa the Fair. As they take to the road, they soon learn that along with their quest comes hardship. But for all the hardships they encounter, there are as many unexpected joys and friends in unexpected places, and there is always their love for one another. And always, their destination lies before them: somewhere, a sanctuary where they’ll have the freedom to be together and be themselves. From the Hardcover edition.
May, 1993: Karen Everett walks into Wally Demchuk s sound editing shop, and his life changes abruptly. Entwined with their romance is Karen s determination to gain compensation for the pain of a loveless marriage, and Wally s decision to prove his love with help in a criminal conspiracy. However, complications soon elevate the caper into a dangerous game involving murder, double-cross and a desperate struggle to keep love alive in a growing atmosphere of distrust."
With a single shot from a pistol small enough to conceal in his hand, John Wilkes Booth catapulted into history on the night of April 14, 1865. The assassination of President Abraham Lincoln stunned a nation that was just emerging from the chaos and calamity of the Civil War, and the president's untimely death altered the trajectory of postwar history. But to those who knew Booth, the event was even more shocking-for no one could have imagined that this fantastically gifted actor and well-liked man could commit such an atrocity. In Fortune's Fool, Terry Alford provides the first comprehensive look at the life of an enigmatic figure whose life has been overshadowed by his final, infamous act. Tracing Booth's story from his uncertain childhood in Maryland, characterized by a difficult relationship with his famous actor father, to his successful acting career on stages across the country, Alford offers a nuanced picture of Booth as a public figure, performer, and deeply troubled man. Despite the fame and success that attended Booth's career--he was billed at one point as "the youngest star in the world"--he found himself consumed by the Confederate cause and the desire to help the South win its independence. Alford reveals the tormented path that led Booth to conclude, as the Confederacy collapsed in April 1865, that the only way to revive the South and punish the North for the war would be to murder Lincoln--whatever the cost to himself or others. The textured and compelling narrative gives new depth to the familiar events at Ford's Theatre and the aftermath that followed, culminating in Booth's capture and death at the hands of Union soldiers 150 years ago. Based on original research into government archives, historical libraries, and family records, Fortune's Fool offers the definitive portrait of John Wilkes Booth.