BigChampagne's Ultimate Chart (a/o February 3rd):
1. “What Doesn't Kill You (Stronger),” Kelly Clarkson
2. “Turn Me On,” David Guetta
3. “Set Fire to the Rain,” Adele
4. “Rack City,” TYGA
5. “Good Feeling,” Flo Rida
6. “Young, Wild & Free,” Snoop Dogg & Wiz Khalifa
7. “We Found Love,” Rihanna
8. “Sexy and I Know It,” LMFAO
9. “Domino ,” Jessie J
10. “International Love ,” Pitbull
Wall Street investors continued to walk away from Warner Music Group (WMG) last week, despite an upbeat rating. During the week, shares dipped below the depressed $5-mark before recovering at $5.12 by the closing bell Friday. The difficult period included an all-time low of $4.57, though shares recovered slightly after a positive Merrill Lynch assessment.
Warner Music - like its major label brethren - suffered an incredibly difficult year, and recording industry fundamentals never looked so bad. But analyst Richard Greenfield of Pali Research is accelerating the downward decline, thanks to a string of scathing assessments.
Most recently, Greenfield curbed the enthusiasm by sharply criticizing a $16 million Warner buyout of Bulldog Entertainment Group. The acquired company coordinated a string of ultra-expensive, Hamptons-based concerts for Warner, and ultimately produced deep losses. "WMG needs to be slashing costs and investing in its A&R efforts, not 'partying' with the Hamptons crowd on the company's bill, as if the recorded music biz was vibrant," Greenfield fumed.
Greenfield Post, "I Know What WMG Did Last Summer: 'Party Like it's 1999'"
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