Beliefnet
The Prophet of Pop

Last week it was reported that Warner Music Group lost 18 million dollars over the last three months of 2010.  While this is just the latest in a long story of how record labels have struggled to meet the digital age, it is significant because Warner is huge and it is the last publicly owned major label.  To get a scope of this, just think that Warner owns Atlantic records, Sire records, Rhino Entertainment, and that is without even touching the Warner Nashville line-up.  The losses came despite recent success from Kid Rock, Michael Buble, and Bruno Mars.

While it remains to be seen what Warner’s next move will be, one item up for discussion is selling off the individual labels.  It is worth noting for Christian music fans that they own Word Label Group, along with many Christian artists including recent GRAMMY winners Switchfoot.

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