- Sony Music Entertainment began downsizing by cutting some staff. At least 30 people had been cut from the company’s two distribution companies. Also, Sony’s Columbia Records has laid off several of its staff members, including president of urban music. (Billboard)
- Circuit City plans to liquidate remaining US stores. It will close 267 U.S. stores and cut 30,000 jobs. “This is the only possible path for our company,” Circuit City’s acting Chief Executive James A. Marcum said in a statement. “We are extremely disappointed by this outcome.” (Yahoo)
- The Guardian says despite the digital boom in music sales, the majority of music was downloaded for free with no payments to the artist. Shockingly, the report says 95% of music is downloaded illegally. The music labels have embraced the digital age, but it hasn’t curbed piracy. Regardless, paid downloads saw a 24% global rise in 2008. The Government has to finally accept that they must play a role in protecting intellectual property rights. (The Guardian)
- Radio giant Clear Channel will begin a massive restructuring. Sources say the restructuring will include layoffs across the company’s radio, outdoor advertising and international divisions as well as cuts to programming budgets and consolidation of back-office operations. (NY Post)
- Who is dominating christian radio? That would be Jeremy Camp. His most recent single “There Will Be A Day” has already hit the top on three formats on AC Indicator (more than a month at No. 1), CHR and as of last week at AC Monitored.
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