New York studio market starting to consolidate
July 8, 2004
Unique Recording closed its doors in May. The 20-plus-year veteran of the Manhattan studio community was the fourth significant facility to shutter since the beginning of the year, following Jarvis Sound, Globe Studios and RPM Recording into magnetic heaven. A combination of a shift to personal recording environments, declining music sales and slimmed-down music budgets from record labels under tremendous financial pressure and undergoing massive consolidation themselves are the main reasons cited.
Rumors continue to circulate about the two largest studio complexes in New York, The Hit Factory and Sony Music studios. Rumors on the former include Donald Trump eyeing the location for luxury condos; speculation on the latter includes its possible acquisition by the Oxygen TV network. Several smaller audio facilities are also said to be in play, including Quad Recording, which closed one of its five rooms earlier this year, and Electric Ladyland Studios.
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