Sunday, April 27, 2008

Starbucks quits the music biz - sort of

Starbucks have moved backwards from their attempts to run a music business alongside a coffee shop, announcing that it's going to pass all day-to-day control in its HearMusic joint venture to partner Concord Music.

It seems having all those demo tapes on the kitchen table was getting in the way of brewing coffee:

"As part of our ongoing transformation, we are committed to examining all aspects of our business that are not directly related to our core," said Howard Schultz, chairman, president and CEO of Starbucks. Citing the eight Grammy Awards the label's artists have received, he continued, "now is the appropriate time to restructure our entertainment business to better align our efforts with our overall business strategies."

In other words: put down that bloody guitar and make some coffee, will you?