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Article: Independent record companies flourish by staying ahead of the beat of music's pulse. (Special Report: Entertainment)
- Article from:
- Los Angeles Business Journal
- Article date:
- April 9, 1990
- Author:
CopyrightCOPYRIGHT 1990 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Independent record companies flourish by staying ahead of the beat of music's pulse
Rap music albums that have achieved double-platinum hit status are proving independent record labels can profitably groove by discovering unusual performers and make them pop chart stars.
In an era when many independents have been gobbled up by major music companies the existing independents still captured 10 percent of the $6 billion spent domestically on records, tapes and CDs in 1989, according to New York-based Billboard magazine.
The magazine also reported that smaller record companies accounted for 6.2 percent of last year's top albums and an impressive 18 ...