Sam Williams of the New York Post is reporting that The Sanctuary Group, a British investment firm that represents two of Ozzfest 2004's acts (JUDAS PRIEST and SLAYER), will be ringing up sales as a result of the continued success of the annual traveling heavy metal festival.While traditional labels have abandoned aging metal and "hair" bands such as SLAYER and JUDAS PRIEST, Sanctuary sees the promise of a loyal — and lucrative — fan base. By concentrating on T-shirt sales, DVDs and concert tours, as compared to the piracy-pummeled record business, Sanctuary made $270 million in revenue last year. Sanctuary's loyalty has earned it artist kudos, and it has tripled the number of bands represented since 2000, picking up 60 new acts. At the same time, the company launched the U.K.'s largest independent record label, Sanctuary Records. "It's a very clever business model," said Numis Securities media analyst Richard Hitchcock, one of many financial fans to hold up a lighter in glowing tribute. "They are trying to capture as much value from the music value chain in a way the major labels just haven't been able to do." Company CEO Merck Mercuriadis said he's only doing what all good record labels used to do: building a lifelong relationship between bands and their core audiences. "Our focus as an industry should be to develop talent that makes music a priority for the enthusiastic listener," Mercuriadis said. "You've got an entire generation, maybe two generations of product managers in the record industry that view marketing as something you do to support radio play." Read more.
To comment on a BLABBERMOUTH.NET story or review, you must be logged in to an active personal account on Facebook. Once you're logged in, you will be able to comment. User comments or postings do not reflect the viewpoint of BLABBERMOUTH.NET and BLABBERMOUTH.NET does not endorse, or guarantee the accuracy of, any user comment. To report spam or any abusive, obscene, defamatory, racist, homophobic or threatening comments, or anything that may violate any applicable laws, use the "Report to Facebook" and "Mark as spam" links that appears next to the comments themselves. To do so, click the downward arrow on the top-right corner of the Facebook comment (the arrow is invisible until you roll over it) and select the appropriate action. You can also send an e-mail to blabbermouthinbox(@)gmail.com with pertinent details. BLABBERMOUTH.NET reserves the right to "hide" comments that may be considered offensive, illegal or inappropriate and to "ban" users that violate the site's Terms Of Service. Hidden comments will still appear to the user and to the user's Facebook friends. If a new comment is published from a "banned" user or contains a blacklisted word, this comment will automatically have limited visibility (the "banned" user's comments will only be visible to the user and the user's Facebook friends).