LA Times: A Revitalized Capitol Records Forges A New Path Forward

Positive Changes

THE LOS ANGELES TIMES has taken notice of the turnaround at CAPITOL MUSIC GROUP, with an article published TODAY (2/3). RANDY LEWIS writes, "One of the first things STEVE BARNETT did when he took the helm at CAPITOL RECORDS in 2012 was to pull down all the framed Gold and Platinum records that had long adorned the lobby of the landmark CAPITOL TOWER offices in HOLLYWOOD. The cheap cardboard cutout of THE BEATLES that used to greet visitors, also gone. The testaments to CAPITOL's glory days of eras past symbolized BARNETT's biggest challenge to turning around the label's fortunes."

"They were so burdened by the past they couldn't think about the future," BARNETT told the paper.

"A little more than two years into BARNETT's stewardship as chairman and chief executive, CAPITOL MUSIC GROUP finished 2014 as the #2 label group, tallying 8% of recorded music sales in the U.S. That was up sharply from its #5 ranking, with a 6.6% market share, just two years earlier."

Read the full article here.

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