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Celeb News: Scooter Braun going bankrupt
Member Since: 8/17/2013
Posts: 18,151
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Scooter Braun going bankrupt
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MORE TROUBLE IN SCOOTERVILLE: Scooter Braun’s financial issues continue, as business manager David Bolno of Nigro Karlin Segal Feldstein & Bolno tries to raise the money to buy out Waddell & Reed, which paid $89m for half of Braun’s management company. The pivotal element here is Braun’s relaunch of Justin Bieber’s career, which, if successful, would make Bolno’s pitch to prospective investors far more compelling.
Concurrently, Braun’s Schoolboy label deal with UMG, which had allowed him to place his acts on any of the Universal labels, is nearing its end. Ken Hertz is in the process of renegotiating the deal, and the figure being thrown around is astronomical—unless it’s the asking price for all of Braun’s companies. How motivated is UMG to continue considering that Braun has given the company a number of hits but no bona fide career artists to date?
Braun is seen by execs at the UMG labels as a savvy marketer and an expert manipulator of social media, but they’re less convinced of his A&R chops. PSY, on Schoolboy/Republic, will go down as a colossal one-hit wonder outside of Asia, and although Carly Rae Jepsen, on Schoolboy/Interscope, had a massive hit of her own in 2012, she’s still viewed as an unproven artist. The same can be said of Rixton (another Schoolboy/Interscope put) and Tori Kelly (Schoolboy/Capitol), but all three are being watched closely to see how they develop, and their respective labels are hopeful. Sources close to Braun say Len Blavatnik is intrigued by the possibility of bringing Scooter and company to WMG, but such a deal would run contrary to his track record, and Warner insiders are unaware of any interest on Blavatnik’s part.
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Member Since: 5/16/2012
Posts: 12,486
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Inb4 the ATRL lashings... I think both Scooter & Justin will be okay.
Tho, I'm kind of shocked that Justin isn't considered a "career" artist. I mean I'm aware of how Journals did, but he has the best of both worlds with singles and album sales. I'd imagine his tours also do fine.
His downward spiral hurt him (and Scooter as well clearly), but we haven't really had any idea of how much it has hurt him until he releases some singles and an album.
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Member Since: 11/27/2008
Posts: 78,826
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Maybe if he didn't overpromote Ariana and Justin and simply evened out promo for everyone, everyone else wouldn't one or two hit wonders and maybe he wouldn't be in this position.
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ATRL Contributor
Member Since: 11/5/2011
Posts: 100,491
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PSY, on Schoolboy/Republic, will go down as a colossal one-hit wonder outside of Asia, and although Carly Rae Jepsen, on Schoolboy/Interscope, had a massive hit of her own in 2012, she’s still viewed as an unproven artist.
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Member Since: 3/21/2012
Posts: 55,134
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Wait 
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Member Since: 6/22/2012
Posts: 26,585
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You would've though that the combination of Justin, Ariana & Carly Rae Jepsen would be enough to convince UMG 
Carly is on the cusp of having a mega-smash in the UK, Ariana's entire last era was phenomenal, and Justin still has a large fanbase.
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Member Since: 11/9/2010
Posts: 10,446
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...Braun has given the company a number of hits but no bonafide career artists to date.
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They buried that shade well. Oop.
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Member Since: 8/19/2013
Posts: 7,779
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COME THROUGH Carly! He should focus on Carly ! She has so much potential!
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Member Since: 3/21/2012
Posts: 55,134
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I mean Ari was the it girl if 2014 . She didn't make him any profits??? I find that hard to believe
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Member Since: 5/16/2012
Posts: 12,486
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Originally posted by umich
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HDD, so blunt and so real.
Poor Carly tho. Her song really captured the same magic that CMM had, for me anyway, and it sucks that it hasn't turned out to be a huge hit yet.
Maybe she can pull thru with a hit with the help of a featured artist, Scooter loves resorting to that. 
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Originally posted by NewRihannaStan
I mean Ari was the it girl if 2014 . She didn't make him any profits??? I find that hard to believe
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I believe Ariana wasn't mentioned because she isn't actually signed to his label?
I saw some Ariana stans dragging him and saying they are thankful she isn't signed to him. Tho, had she been signed to him (if she isn't?), he obviously wouldn't be 'in trouble' rn.
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Member Since: 7/15/2012
Posts: 35,409
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FOCUS ON CARLY NOW THEN 
She's the third biggest artist of him after Ariana and JB, he should do more for her
A radio tour in the US will really help
Heck, even if she sends IRLY cakes to radio, IDGAF, use any gimmick you can to give her a hit
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Member Since: 3/15/2013
Posts: 10,989
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I feel bad for him and Carly.
Get through, Carly.
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Member Since: 8/31/2013
Posts: 8,684
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Member Since: 8/20/2011
Posts: 18,654
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ATRL Contributor
Member Since: 8/19/2013
Posts: 18,655
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Well it is what it is. Can't quite say I'm shocked though because just like them, his A&R skills are kinda iffy 
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How motivated is UMG to continue considering that Braun has given the company a number of hits but no bona fide career artists to date?
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This isn't shocking either because he really hasn't. Some may not be able to separate their stan lives from reality but the trust of the matter is none of those artist have quite proven that they're career artists, including Justin. It's not about the "hits" they bring in, it's about whether or not they have the ability to appeal to people as they & their fanbase age and the climate of music changes.
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Member Since: 11/18/2008
Posts: 60,607
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Nooo I'm afraid for CL 
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Member Since: 8/6/2012
Posts: 9,171
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Justin Ha Fancy taste 
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Member Since: 11/18/2008
Posts: 60,607
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Quote:
Originally posted by NewRihannaStan
I mean Ari was the it girl if 2014 . She didn't make him any profits??? I find that hard to believe
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As far as I know he MANAGES Ariana she's not signed under his label which tbh only has Justin as a force in music. Carly still struggling to get a hit in the US, PSY well  and Rixton only had a hit. He basically only has JB and they are probably waiting to see if his next era will be successful considering everything he's done/happened in the past 2 years. A lot has changed.
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Member Since: 6/24/2012
Posts: 24,708
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Carly, even though I don't like her, has potential. He needs to focus on promoting her latest single instead of just reviving Justin's career.
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ATRL Contributor
Member Since: 1/1/2014
Posts: 19,418
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Originally posted by MusicLoverDude
Maybe if he didn't overpromote Ariana and Justin and simply evened out promo for everyone, everyone else wouldn't one or two hit wonders and maybe he wouldn't be in this position.
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Everyone else was destined to flop, while on the other hand the GP loves Ariana
Ariana isn't even signed under his label
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