The Council of record label trade body the BPI last week backed a 2008 budget which sees a number of cuts that will in turn enable "substantial reductions" in the subscription fees paid by the major record companies. The cuts follow those previously reported comments made by the aforementioned Guy Hands, who said he was shocked at how much the record industry spent on trade associations. However, the BPI says that moves to cut costs at the UK trade body had been in the pipeline since the summer, and were not a response to Hands' comments. Music Week quote BPI boss Geoff Taylor thus: "We're very conscious of the market situation that our member companies are facing and, in light of that, began in the summer a detailed review of the BPI budget. We have prepared a 2008 budget that includes substantial reductions in subscriptions whilst maintaining - and sometimes increasing - resources in particular areas". The subscription fees paid by indie labels will not change.
Dec 18, 2007
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1 min read
BPI cuts costs and reduces major label subscriptions
The BPI has approved a 2008 budget with cuts that will reduce subscriptions for major record companies, though indie fees remain unchanged, says Geoff Taylor.