A couple of days ago Edgar Bronfman jr. gave U.S. analysts an update on how the ongoing desaster on Wall Street will affect his Warner Music Group. As of now, he said, they’re not feeling the pain yet. But the stock will be hurt anyway, regardless of Warner’s performance.
Said it, and got on a plane to Germany. During the annual, invitation-only media dinner in Hamburg (the HQ of Warner’s central European operations) Bronfman reminded German lawmakers of the necessity to reform copyright laws. In front of an audience of some 400 high-level executives he called upon Chancellor Angela Merkel to increase the level of protection for creators. Bronfman highlighted the French model of “graduated response” (aka “three strike and you’re out”) towards illegal filesharers as standard-setting.
According to a report by MusikWoche Bronfman also downplayed the continuing recession in the recorded music market. “This desease isn’t lethal. The digital revolution comes with chances of healing.” The number of new revenue models keeps growing, the Warner CEO said. And the U.S. company wouldn’t pass on any good business opportunity.
