Modular’s debt, & a debt-making tee
July 29, 2008
Just saw this news via the Australian Daily Telegraph:
RECORD label Modular has run up millions of dollars in losses despite having big-selling rockers Wolfmother on its roster.
Company accounts show the Sydney-based label had accumulated losses of $5.9 million by the end of 2007.
The report revealed Modular lost nearly $1.8 million last year and another $2.6 million in 2006.
Label boss Steve Pavlovic said he expected the label’s heavy investment in talent to pay off this year.
Modular’s roster includes Wolfmother, whose self-titled debut album was accredited five times platinum by recording industry peak body ARIA last year for wholesale sales of 350,000 units.
Other artists on Modular’s roster include chart-topping dance acts Muscles, the Presets and Cut Copy, New York art rock band the Yeah Yeah Yeahs and singer-songwriter Jack Johnson.
The financial report was filed earlier this month at the request of corporate watchdog ASIC.
It shows 2007 receipts from customers of more than $8 million were exceeded by payments to suppliers and employees of nearly $8.7 million.
Mr Pavlovic said the business had “swings and roundabouts”.
“You’ll see it start to rise now as the records we’ve got out start to sell,” he said.
While I can’t see that it has anything to do with the delayed album, my mind can’t help but wonder. Maybe they don’t have the cash to promote like they want to?
Unrelated, but I couldn’t help but notice this weird mannequin on Modular’s store … the tee is yours for a bargain AU$80 (that’s USD$75 nowadays). Are these people crazy?
New look wolfmother.net
July 27, 2008
Well here it is, the new look Wolfmother.net. I hope you enjoy it!
It is going to take a while for me to sort all of the other content out, so please bear with me for a while until it’s all done. Should be spic and span within a week or so – until then you’ll have to put up with the many images of a woman’s ass (from Woman of course). I figured there could be worse things to look at …
A few other things I plan on doing include the following, but any suggestions please tell me below:
- Better organise the Lyrics section with one song per page and in alphabetical order
- Categorise the posts better so you can differentiate between Tour updates, Band news and General site related news (I think those will be the three categories anyway)
- Setup the Flickr account so that you, the fans, can add your own pics and grow the image library
- Make sure the site looks good and without glitches
Planned downtime
July 26, 2008
Just thought I’d let you know that at some point today or tomorrow the site will be down for a few hours (the forums will still be active). Yes, I am finally implementing a new design that I hope you will all like as much as me!
Here’s a sneak preview:
