Music mogul L.A. Reid describes being hired as vice chairman of Universal Music Group immediately after being dismissed from Arista Records.
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“And 40 minutes later, I was shaking hands with Doug Morris, and I become the vice chairman of the Universal Music Group within, within minutes.”
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More from L.A. Reid
AssertionSupported
Arista required Reid to replace Clive Davis as condition of buyout
“The owners of Arista, they said, we'll buy your label, but you'll have to agree to a move to New York. B, you'll have to replace Clive Davis and take over Arista Records as its president.”
Reid refuses to let prospective superstar artists leave meetings without signing
“Yeah, I don't let people leave. If I think you're gonna be a big star, I don't let you leave, you know. Sometimes people insist, hey, can I think about this? You know, and then the answer is usually no, you can't, you need to do it right now, because the minut…”
Reid: Leading a music label is like leading a band
“There's not very much difference between being a band leader and being a CEO of a music company, because it's managing talent, and I won't say that I mastered it, but I certainly knew something about it when I started the company, and I figured the rest out.”
Reid: Label buyers acquire future creative output, not just back catalogs
“The way it really works is, I'm the manager of the talent, and what you're buying is really me. You're not just buying those records that have already been massively successful, you're buying what you hope the future will be.”
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