I used to be a label executive and you pretty much nailed it. And nailed why I left.
I worked with a group of really great people who strove for innovation. However the tendency is still to mine the past for as much as its worth until there is nothing left to mine.
Try this thought experiment: take the earnings from any of the labels and see how much is from catalog vs new signings, and how much was spent to market catalog vs new signings.
Basically wmg would be in a better place to just shut everything down except Rhino and Chappell and ride out their mechanical and publishing contracts to end.
I worked with a group of really great people who strove for innovation. However the tendency is still to mine the past for as much as its worth until there is nothing left to mine.
Try this thought experiment: take the earnings from any of the labels and see how much is from catalog vs new signings, and how much was spent to market catalog vs new signings.
Basically wmg would be in a better place to just shut everything down except Rhino and Chappell and ride out their mechanical and publishing contracts to end.