Stereo Gold Award was a budget label record label owned by producer
Dave Miller. It released many budget and
exploito Exploito is a term generally given to describe cover version or sound-alike recordings that capitalize on the official recordings of artists. Typically they are of the budget release type of album. Often the buying public would think they are buyin ...
type recordings during the 1970s. It was one of the last of Muller's major business ventures.
Background
The label was a U.K. based label, and owned by Miller who also owned Distribution Direct. The parent company was
Damont Records. The records were distributed in the U.K. by Record Merchandisers. It was announced in the August 8, 1970 edition of ''Billboard'' that the label was to be launched in mid September of that year by the
U.K. Rack Consortium. The records were to be priced at $1.50 each and were to be manufactured by
PYE which was a partner in the consortium. Most of the material would be sourced from the U.S. based Damill catalogue. In the U.K, Damill recordings were currently being released by PYE's subsidiary
Marble Arch
The Marble Arch is a 19th-century white marble-faced triumphal arch in London, England. The structure was designed by John Nash (architect), John Nash in 1827 to be the state entrance to the cour d'honneur of Buckingham Palace; it stood near th ...
.
Relationship with Woolworths
By July 1974, five million Damont produced Stereo Gold Award albums had been sold via Woolworths since they had started selling them. In recognition of the level reached, Damont MD Monty Presky presented Woolworths buyer Bob Egerton with a gold disk.
In 1979, retail chain
F.W. Woolworth
Frank Winfield Woolworth (April 13, 1852 – April 8, 1919) was an American entrepreneur, the founder of F. W. Woolworth Company, and the operator of variety stores known as "Five-and-Dimes" (5- and 10-cent stores or dime stores) which featured ...
replaced Stereo Gold Award records that it was selling exclusively with their own brand / record label, Chevron. They had already been selling Chevron cassettes since 1977, so the arrival of the records would complement the cassettes. In a ''Billboard'' article dated February 17, 1979, Damont's MD Monty Presky was quoted as saying Woolworths would concentrate on a higher priced repertoire in the future and building its custom pressing business. He also said that it was a disappointment for them.
[''Billboard'' February 17, 197]
International Page 74 U.K. Market Trust, Woolworth Will Bow Own Budget Line by Peter Jones
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References
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External links
Budget record labels