Mtv Boycott Threats By Top Rock Acts
LATEST: TRAVIS, THE STROKES and FRANZ FERDINAND have joined the battle against MTV EUROPE after the cable network threatened to reduce screening royalties.
Independent music labels BEGGARS BANQUET, TELSTAR, MINISTRY OF SOUND, ROUGH TRADE and XL RECORDING are furious after MTV announced its proposal to halve the GBP1.9 million ($3.42 million) fees paid annually for the screening rights.
MIS-TEEQ, CRAIG DAVID, VICTORIA BECKHAM, FEEDER, MOLOKO, and SO SOLID CREW would all be affected financially if the proposal goes ahead.
The smaller labels - who make up 22 per cent of the market - want a GBP5 million ($9 million) increase in annual video fees, which MTV NETWORKS EUROPE chief operating officer SIMON GUILD dismisses as "extortionate".
In the face of losing access to some of the world's biggest artists from next Wednesday (31MAR04), MTV are negotiating individuals deals with labels, and have so far signed 35 separate agreements.25/03/2004 13:56