Sidelined in the last round of label takeovers which saw Universal acquire Hypperion, Apple buy Bis and Klaus Heymann take over Chandos, slow-moving Sony Classical has just bought the venerable Czech label Supraphon.
This is bad news, and for many reasons.
– Supraphon’s unique identity as the voice of Czech music will be smudged by corporate ownership.
– Sony have no experience in handling medium-sized labels.
– Sony’s main interest in the label is the $84.1 million size of the Czech music market which it can swell with western product.
All told, this deal is reminiscent of 1990s corporate raids on central Europe cultural assets when the fall of communism had left them vulnerable and undevalued. This is old-fashioned, short-term capitalist imperialism. Nothing likeable about it.
A handful of Sony and Supraphon executives will pocket a hefty bonus.
That said, Supraphon have been woefully inefficient in developing market share and profile outside the home country. Its current chiefs must take responsibility for its downfall.
Official statement: “Supraphon is a cornerstone of Czech music heritage, with an invaluable catalog and a commitment to promoting Czech and Slovak talent that aligns perfectly with Sony Music’s dedication to artist development,” said Daniel Lieberberg, president, Sony Music Entertainment, Continental Europe and Africa. “We are proud to welcome Supraphon to the company and look forward to empowering local artists with our global expertise, resources, and reach. Together, we will celebrate and elevate Czech music on the international stage.”
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