Simmons: Opportunities in consolidation - Broadcasting & Cable

Simmons: Opportunities in consolidation

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Def Jam Recording founder Russell Simmons said Friday that the consolidation of
media has made it harder for independent labels to get airplay, but the
conglomeration of the business also presents opportunities.

"The idea that a corporation must sell 2 million copies of an album to break
even is a tremendous opportunity for a unique voice," Simmons said.

While corporations paying huge advances to mega-star celebrities must hit a
home run with every release in order to cover costs, smaller outfits can turn a
profit on a mere 100,000 sales.

"We have to be creative ourselves," Simmons said during a panel on media
concentration hosted by the Congressional Black Caucus.

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