Hit Men audiobook cover - Power Brokers and Fast Money Inside the Music Business

Hit Men

Power Brokers and Fast Money Inside the Music Business

Fredric Dannen

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Key Takeaways from Hit Men

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Mind Map

Hit Men
The Clive Davis Era+
Walter Yetnikoff & Bidding Wars+
The Independent Promotion Machine+
Internal Struggles & Excess+
The Fall of the Empire+

Quiz — Test Your Understanding

Question 1 of 6
What major strategic shift did Clive Davis implement at CBS Records in the late 1960s?
  • A. He shifted the label's focus from easy listening and show tunes to rock music.
  • B. He eliminated the use of independent promoters to save the company millions.
  • C. He sold the company to a Japanese conglomerate to expand its global reach.
  • D. He focused exclusively on signing established artists from rival labels rather than finding new talent.
Question 2 of 6
How did Walter Yetnikoff's leadership style at CBS Records differ from the traditional approach of the record industry?
  • A. He prioritized nurturing new, undiscovered talent over signing established stars.
  • B. He focused heavily on acquiring established artists at any cost through fierce bidding wars.
  • C. He refused to work with artist managers, preferring to deal with musicians directly.
  • D. He implemented strict cost-cutting measures to avoid paying massive advances to artists.
Question 3 of 6
What was the outcome of Dick Asher's attempt to get Pink Floyd’s “Another Brick in the Wall, Part Two” on LA Top 40 radio without using independent promoters?
  • A. The song became a massive hit on LA radio purely through organic fan demand.
  • B. Radio stations refused to play the track until CBS hired and paid the independent promoters.
  • C. The band refused to tour until CBS paid the promoters, forcing Asher to resign.
  • D. Asher successfully proved that album-oriented rock didn't need Top 40 radio to sell records.
Question 4 of 6
Despite Dick Asher's success in engineering a financial turnaround for CBS Records in the early 1980s, what was his ultimate fate at the company?
  • A. He was promoted to CEO after Walter Yetnikoff checked into rehab.
  • B. He left voluntarily to become the president of Warner Communications.
  • C. He was abruptly fired by Walter Yetnikoff, who then took credit for the company's record profits.
  • D. He was indicted for financial misconduct along with Clive Davis.
Question 5 of 6
What event caused major record labels to abruptly sever ties with independent radio promoters in 1986?
  • A. An NBC News report exposed the promoters' cozy relationships with organized crime.
  • B. Congress passed a law making the pay-for-play radio system a federal crime.
  • C. Independent promoters began charging more than the labels were earning in record sales.
  • D. Artists went on strike to protest the promotion costs being deducted from their royalties.
Question 6 of 6
What major corporate move did Walter Yetnikoff orchestrate in 1988 before his eventual downfall?
  • A. The acquisition of PolyGram to dominate the European music market.
  • B. A hostile takeover of Warner Bros. Records.
  • C. The $2 billion sale of CBS Records to Sony to escape the micromanaging of CBS chief Larry Tisch.
  • D. The merging of CBS Records with MCA to form a massive entertainment monopoly.

Hit Men — Full Chapter Overview

Hit Men Summary & Overview

Hit Men (1991) takes you inside the gritty and glamorous world of the music industry during the 1970s and 1980s, where power struggles, billion-dollar deals, and shady backroom negotiations shaped the sounds of the time. You’ll meet legendary record execs, witness fierce rivalries between labels, and get an unrivaled view of the high-stakes games behind your favorite hits.

Who Should Listen to Hit Men?

  • Music nerds interested in the history and impact of record labels
  • True crime fans fascinated by corporate intrigue and manipulation
  • Anyone who loves investigative journalism uncovering corporate corruption and greed

About the Author: Fredric Dannen

Fredric Dannen is an American journalist whose work has appeared in The New York Times, Rolling Stone, and Vanity Fair. He co-authored Hong Kong Babylon and was the co-recipient of the Overseas Press Club’s Morton Frank Award for business reporting abroad.

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