David Kronemyer

David Kronemyer

Mr. David Kronemyer started his career in the music business playing 12-string electric guitar in a folk rock band. Lacking sufficient talent to continue as a performer he began to manage bands and promote shows. He formerly was Vice President of Capitol Records and Senior Vice President of Atlantic Records. Segueing to the movie business he became President of Gold Circle Films and then President of Cerberus Films. He currently is producing records and directing independent movies, none of which have much commercial potential.

One Comment

  1. Stephen Drath
    Sep 26, 2012 @ 6:46 PM PDT

    With respect to your commentary on Priority Records:

    “Profits quickly turned into large losses, primarily due to large multi-million dollar distribution advances from Priority to No Limit Records, which could not be recouped.”

    At the time, Capitol and EMI were more anxious than Priority to hang on to No Limit’s distribution. Priority on its own would never have advanced the monies that it did with EMI’s backing and encouragement. Even so, most likely those advances would have been recovered had EMI managed its relationship with Priority and, by extension with No Limit, to anything approaching the standard one should expect from a publicly quoted member (at the time) of the FTSE 100 (something akin to inclusion in the Dow Jones Industrial Average). It is still shocking that EMI’s shareholders would part with so much money in order to gain control of Priority, only to allow its mismanagement and, within three years, an effective liquidation.

    “Priority Records was founded by Bryan Turner and Mark Cerami, both formerly with K-tel, best known for issuing re-recordings of masters by once-popular artists. They later were joined by Steve Drath.”

    For the record, K-tel was known best for licensing original master recordings from mainly major record labels and releasing compilations of original hits, something which for the longest time the major labels were unable to organize themselves. Until the NOW series got off the ground in 1983, K-tel had been the foremost compilation brand in the world. While several Virgin and EMI executives claim that they came up with the idea of releasing cross-major compilations of recent hits, all they really did was question (after close to a couple of decades) why they were working with K-tel instead of with each other.

    And one last one for the record: Steve Drath opened the doors of Priority Records following its incorporation on May 13, 1985. He was the first individual on the payroll on June 1, followed by Mark Cerami on June 15 and then by Bryan Turner on July 1. If anybody has bothered to keep them, both the EMI and the K-tel HR records reflect this.