Prompt Cast
Miles Copeland's Revolutionary Impact on the Music Industry
TLDR Miles Copeland, founder of IRS Records, revolutionized the music industry in the 1980s by signing iconic bands like The Police, REM, and the Go-Go's. Copeland's journey involved managing bands, facing financial disasters, taking risks, and navigating the competitive music industry landscape.
Timestamped Summary
00:00
Miles Copeland founded IRS Records and signed iconic bands like The Police, REM, and the Go-Go's, revolutionizing the music industry in the 1980s.
06:24
Miles Copeland's interest in music began in his teenage years in Beirut, leading him to promote concerts and manage bands like Wishbone Ash in the early 1970s.
11:42
Miles Copeland managed bands like Wishbone Ash and Climax Blues Band, learning every aspect of the music business and starting a trade magazine to promote his artists.
17:22
Miles Copeland faced a financial disaster when Lou Reed failed to show up for a concert in Spain, leading to bankruptcy and resigning as a manager, but managed to negotiate with creditors to avoid complete bankruptcy.
23:26
Miles Copeland entered the punk rock world by booking shows for bands like the Sex Pistols and Generation X, gaining credibility and eventually involving his brother Stuart in forming the band The Police.
28:56
Miles Copeland took a risk by signing The Police to A&M Records with a unique deal, leading to the band's breakthrough success.
34:46
A DJ's heavy airplay of The Police's single "Roxanne" in a major American city caught the attention of A&M Records, leading to the band's breakthrough success and the subsequent formation of IRS Records.
40:31
Miles Copeland gave Jay Boberg 5% of IRS Records each year for the first five years, making him vice president, and later signed acts like REM and The Go-Go's despite competition from bigger labels.
45:42
Running a record label involves tough negotiations and understanding that bands may leave for bigger labels, requiring a balance of business savvy and loyalty in the competitive music industry.
51:23
Miles Copeland reflects on the decision to leave A&M Records for a distribution deal with MCA, which ultimately led to increased overhead costs and pressure to sign acts for sales rather than artistic merit.
57:40
Miles Copeland reflects on the changes and challenges faced by IRS Records as it was eventually shuttered by EMI, leading to the need to adapt and move on to new projects in the music industry.
01:03:20
Miles Copeland discusses a successful tie-in between Sting's record and a Jaguar commercial, leading to a surge in popularity for the single.
01:09:12
Miles Copeland reflects on the challenges faced by IRS Records in keeping artists beyond their initial success.
Categories:
Business
