Vinyl Me Please (store, exclusives, swaps, etc)

max_stacks said:
It’s cool what Vinyl Moon is doing in promoting indie artists, but looking at their pricing ($39) it’s more than what the previous US annual VMP sub was per record. It’s comical that they take a shot at another company’s pricing strategy when their own company charges at a similar rate.

I think he’s just trying to market his own club to appeal to angry masses, which is great! Business stuff! Go promote! But he admittedly and obviously isn’t facing the same licensing cost issues VMP is seeing, and yet still charges close to them. And that’s ok!
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The point I foubd interesting that pressing costs do not increase but licensing fees mainly. So basically record companies trying to squeeze a higher share out of vmps earnings
 
Jan said:
The point I foubd interesting that pressing costs do not increase but licensing fees mainly. So basically record companies trying to squeeze a higher share out of vmps earnings
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this is what i said a long time ago and why i think VMP may completely abandon monthly subscriptions. they are a third party that is at the will of record companies and have no real negotiating power. labels know they have to do monthly releases and can basically charge what they want for licensing and VMP has to pay it or have no records of the month.
 
folsom_lives said:
I thought something didn't sound quite right...

But seriously large amounts of money being siphoned off from Vinyl Me Please. I saw $1.5 million in one place and another $500k in another.
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was something like 200k plus paying gary a ton of money before even approaching the board about the idea of a plant...then more after siphoned into receivables so board wouldn't see it.
 
MikeH said:
was something like 200k plus paying gary a ton of money before even approaching the board about the idea of a plant...then more after siphoned into receivables so board wouldn't see it.
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I guess I was mistaken that the $1.5 million was them trying to get buy-in and there was no actual proof they could deliver anything from the plant yet. But at that point they were in the red from having already built the thing. Sounds like a "pre-order" situation to me...

I don't know how you recover from this.
 
MikeH said:
too much to recap really...not a long read.

the juicier part in there was that someone wanted to buy or heavily invest in VMP (doesn't mention who...maybe craft?) but when they learned about the pressing plant possibly being a part of that deal, they wanted no part of it.
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Which is confusing because that would imply that it was VMPs plant, but at the same time they're trying to insist that it was never their plant. The whole thing is still very muddy with what sounds like contradictory claims at different parts. Mainly it doesn't sound like the board really knew if it was going to be their plant or not.
 
MikeH said:
updated court docs for the VMPlant case are interesting....

trellis.law

Complaint - Amended - Amended Complaint with Jury Demand August 30, 2024

Complaint - Amended - Amended Complaint with Jury Demand August 30, 2024. Read court documents, court records online and search Trellis.law comprehensive legal database for any state court documents.
trellis.law trellis.law
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The moral of the story is if you are shady person go into the record club business. Between this and Bandbox, this is just insane.
 
MikeH said:
updated court docs for the VMPlant case are interesting....

trellis.law

Complaint - Amended - Amended Complaint with Jury Demand August 30, 2024

Complaint - Amended - Amended Complaint with Jury Demand August 30, 2024. Read court documents, court records online and search Trellis.law comprehensive legal database for any state court documents.
trellis.law trellis.law
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Well that explains a lot of the holes from the initial filing. Some real cloak and dagger shit over there.

And hey, as we’ve always suspected VMP is actively trying to sell.
 
Hemotep said:
Which is confusing because that would imply that it was VMPs plant, but at the same time they're trying to insist that it was never their plant. The whole thing is still very muddy with what sounds like contradictory claims at different parts. Mainly it doesn't sound like the board really knew if it was going to be their plant or not.
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The ends of the margin were cut off to me, but because of the tie up in equity, the plant was also in deck with the company being sold.

Basically, the dude negotiating the buy was in the three and was trying to get the plant paid for in the deal.
 
In summary, the fired execs had VMP staff sign ndas to keep all plant activity secret from the board. They then spent a bunch of money on the plant and hired Gary. RTI and QRP were like fuck you. The board didn’t like the idea because they saw the manufacturing issue resolving itself but at that point, the execs had sunk 11 months of time and effort in the project. They also didn’t like the way it was brought to the board (they evidently voted for the resolution at the meeting it was presented) and they thought Cam voting was fishy. In addition to at least 2 million being sunk in the project before and after board approval, the execs forced the plant to be in a possible deal for acquisition and that deal fell through. However they are in talks with that entity again.
 
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