Shrinking Salaries for Major Label Execs; Another Win for the Internet

A report in The New York Post (via The Daily Swarm) claims that the salaries of major record label executives are quickly diminishing. Chief Executive of EMI Music Elio Leoni-Sceti is reportedly paid less than $1 million a year for his work (aw, c'mon!), while Warner Music CEO Edgar Bronfman Jr. has a base pay of $1 million, with the opportunity to make up to $6 million (should be way more!).

"Record companies can't keep their top people anymore," a source told The New York Post.

The article goes on to juxtapose the salaries of major music executives to that of CEOs and executives in other media industries, and the results are... anecdotal. Disney CEO Robert Iger pulled in $20.71 million in 2007, and Comcast chief executive Brian Roberts earned $38.9 million the same year. Suddenly, $1 million doesn’t seem like a whole lot, does it? Apparently being a millionaire is no longer enough. Meanwhile...

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