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PolyGram Holding Inc history
PolyGram Holding Inc company history timeline
That situation began to change in 1958, as the European Common Market began to form, and the original members agreed to lower and finally eliminate internal tariffs, which greatly helped record sales.
In 1966, Philips used Mercury Records to begin distributing its new tape cartridge system--tape one-eighth-inch wide enclosed in a cassette, that could be used for playing and recording music--and cassette players for the home and car.
1975-85: Adding Pop to Classical and Jazz
RSO Records produced the soundtrack albums for both films in 1978.
In 1982, PolyGram and Philips launched the compact disk and disk player worldwide.
1985-95: Acquiring Record and Film Companies
PolyGram's music publishing business also grew in 1989 with the purchase of three publishing operations, Welk, Sweden Music, and the Island Group.
To bring classical music to a larger audience, the company held special events, such as the Three Tenors concert in Rome in 1990.
In January 1991, he was named president and CEO of PolyGram N.V. and CEO of PolyGram USA.
In 1995, PolyGram Latin America bought Rodven Records, that continent's largest independent record company.
With the purchase, in 1995, of the remaining 49 percent of Interscope Communications, PolyGram had four film production companies which, like the record companies, operated as autonomous creative units.
PFE sales accounted for 16 percent of total sales in 1996.
The two years of restructuring efforts paid off, as PolyGram's net sales rose 17 percent in 1997 and operating profit was up 11 percent.
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