Kylie Minogue Nearly Crippled Waterman’s Company

The Radio Times spoke with pop svengali Pete Waterman who admits he nearly destroyed his company in an effort to keep Kylie Minogue atop the charts with ‘I Should Be So Lucky’ early in her career. Waterman revealed, “In 1989 we banked £17 million and I thought, ‘Fantastic’, until the accountant phoned to say we were £8.9 million overdrawn. No one warned, ‘You’re paying the artist too much’. In retrospect Kylie was the worst thing that happened to us although she’s fantastic and we’re all best mates. We were a small company, sharing our revenue with the artists, which sounds applaudable.” Read more.