July 2, 2007
Amidst Marked Declines, Warner Music Group Chaiman Displays Strong Optimism
Despite plunging CD sales and a sour stock performance, Warner Music Group chairman Edgar Bronfman, Jr. displayed strong optimism during an interview Wednesday, writes digital musical news via Wired.
"This decline is steeper than we expected, but in some ways it means we'll get to the bottom faster, and after that there's growth," Bronfman said during a discussion on CNBC.
The executive pointed to the difficulties that incumbent companies face in disruptive market changes.
But Bronfman appeared determined to avoid a disastrous ending, and described an aggressive push into newer formats. That includes a myriad of mobile assets, including ringtones, voicetones, and related tie-ins.
"We're going to be putting out video and ringtones and ringback tones, then connecting them to blogs and ticketing opportunities when the artist goes on tour, merchandising, you name it," Bronfman said.
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