posted by davidt on Wednesday August 24 2005, @08:00AM
Brighton Rich writes:
Even journalists have a sense of humour... Under the headline "You Just Haven't Earned It Yet Baby" - the business column in todays Guardian Newspaper ( UK left of centre broadsheet ) there is a slightly tongue in cheek analysis of the woe's at Sanctuary central. here's the most main section -

Notebook: Morrissey could analyse Sanctuary

Here's a little game for Sanctuary's suffering shareholders, Which lyric by Morrissey - the company's most famous client, best describes the group's current plight.

Heaven Knows I'm miserable Now and Still Ill are far too obvious. I Don't Owe You Anything gets marks for irony, given Sanctuary's pile of debit, indeed lets hope Cemetery Gates is premature. There is a light that never goes out is optomistic, but frankly Stretch Out And wait chimes with the inevitability of Sanctuary's announcement for all the chatter, no bid has materialised.

Now Warner Music has walked, life looks very grim indeed for little Sanctuary. Yes Yes, all those titles were by The Smiths, rather than Morrissey, the solo artist on Sanctuary's books, but thats rather the point here. Building a business on the music industry's retreads is a model that has never been shown to work.

you can get more details of the Sanctuary decline here:
No refuge for Sanctuary as bid talks fail - The Guardian

and here:
Pop goes the label - The Guardian

it must be a game they play in the office - there is an article on the same page about retail recovery titled -

"Reasons To Be Cheerful"
---
someraincoatedlovers also sends the link:

Misery surrounds Morrissey's Sanctuary as shares tumble - Times Online

Excerpt:

THERE were serious concerns for the survival of Sanctuary Group yesterday as the world’s largest independent music company unveiled its third profits warning for the year and said that takeover talks with a prospective buyer had fallen through. The company’s shares plunged by more than 40 per cent to 10p, their lowest point in more than 13 years, after it said that profits were likely to underperform full-year market forecasts.
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  • ...but doesn't it seem like just yesterday when the financial pages were buzzing about the great financial success and savvy of this label? And, in fact, isn't its current financial state due to the fact that it bought Beyonce Knowles management company (run by her father) that turned out to be a dog and not anything to do with "retreads"?
    Anonymous -- Wednesday August 24 2005, @08:14AM (#176204)
  • I hope Sanctuary's debt would continue to fund Morrissey. We remember what happened the last time round with Mercury.
    nonesoever -- Wednesday August 24 2005, @08:35AM (#176214)
    (User #8448 Info)
    "... turn popular song into sickness"

  • Was Morrissey really in search of bands to release them on "his" label? If Sanctuary goes down, what will happen with Attack?
    palare -- Wednesday August 24 2005, @08:38AM (#176215)
    (User #152 Info | http://worldofabrahan.com/)
    where the world's ugliest boy became what you see...
  • I wonder what his contract with Sanctury says? It appears the Sanctury problems are why Moz moved out of LA (if infact he has left LA all together).
    Anonymous -- Wednesday August 24 2005, @08:43AM (#176218)
  • Building a business on the music industry's retreads is a model that has never been shown to work.

    If this is in direct reference to Moz, you, "journalist", are not only a hack, but a cock!

    I guess the Sanctuary/Morrissey romance was only meant to burn twice as bright/half as long.

    king leer -- Wednesday August 24 2005, @09:37AM (#176231)
    (User #80 Info)
  • Anthrax
    Allman Bros. Band
    Robert Plant
    Megadeath
    Janes Addiction
    Kiss
    Wu-tang Clan, and all the artist in Sanctuary. Why are these bands never mentioned?
    They are well known.

    What about the Boz Boorer Song Writing Deal or whatever.

    None of these bands have financial troubles with the label?
    tenderliz -- Wednesday August 24 2005, @09:56AM (#176234)
    (User #11301 Info)
  • ok I may seem crazy but being that the music biz tends to fluctuate so much and just shortly after Morrissey's last album came out Sanctuary's stock rose quite a bit so we should all be buying stock now while it has shares for 10p...then sell off when the stock goes back up after the album goes platinum!
    IP -- Wednesday August 24 2005, @12:25PM (#176269)
    (User #14525 Info)
  • ..........(is) far too obvious."

    Doesn't usually stop them.
    Benton -- Wednesday August 24 2005, @12:47PM (#176277)
    (User #7241 Info)
  • where I posted this info before, but I know that Sanctuary are suffering heavily for having branched out into book publishing (if this is in the article I apologise, but anything business related turns me into a blithering idiot, so I didn't read the whole thing).
    Basically, if they declare bankruptcy of the publishing side, the whole company is in jeopardy ... and they're very, very close to that happening.
    As things stand with Moz, is it not conceivable that he bought Attack and has total control of the label? i.e. Sanctuary are only there in name and perhaps contracted to handle some business dealings, but not to interfere anywhere else ... if so, should Sanctuary go under, Moz only has to buy them out of their side of the bargain, and he will own Attack.
    However, like I said, business dealings are a staple part of eternity in hell for me, I really don't know how such an agreement would work. Perhaps some entrepreneurial soul could enlighten me.
    Mozzersgirl -- Wednesday August 24 2005, @05:22PM (#176337)
    (User #14229 Info)
    "There's more evil in the charts than in an al-Qaeda suggestion box" - Bill Bailey
    • Re:I can't remember (Score:2, Interesting)

      If that happens, I will buy everything on the attack catalog.

      Unfortunatly,I have so little insight into how a business model for a company like this works. I suspect that with such success they were having, to have risked this kind of loss makes me wonder about any conviction they really had in making Sanctuary lable a steadily profitable success. I think Morrissey would atleast make sure people hired cared about making the idea work, not just personal gain. Those whom think about the broad context in making good decisions, not just "target market" in a box ideas.

      I have so many idea's on what went wrong, but thats what people naturally do when they see a ship sinking from the outside. Like you, someone who has more knowledge could give us more insight.

      But I am always the first to point a finger and just yell "greed".
      MasterOfWho -- Wednesday August 24 2005, @06:50PM (#176359)
      (User #7664 Info)
      Is there room in your heart for a Tennant who carries a Rose? http://www.bbc.co.uk/doctorwho/
    • Re:I can't remember by Anonymous (Score:0) Thursday August 25 2005, @05:22AM


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