Word: emi
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...there anything you consider to be off-limits in your writing? Emi Chang, MILILANI, HAWAII...
...While EMI has had an especially tough time, it is also something of a barometer for the biggest players in the business. Universal Music, the world's largest record company, saw its revenues dip slightly last year. Low margins at Sony BMG, the industry's No. 2, have left its own music business ripe for a private-equity buyout this year, says Gerd Leonhard, a music-industry consultant in Switzerland. And shares at No. 3 Warner Music have been in freefall for months; a $16 million first-quarter loss was announced in February...
...label's business. But now, with album sales plummeting, music companies are chasing juicier income from touring and branded goods. Part of that revenue stream figures in Live Nation's $120 million deal with Madonna. Likewise, U.S. rock group Korn now carves up its nonmusic income with EMI; Interscope Records, a U.S. label owned by Universal Music, even gets a cut from a Las Vegas nightclub endorsed by the Pussycat Dolls. The appeal for artists? Labels can pledge greater, longer-term support - and big, upfront payments in many cases - if, in return, they get a stake in almost everything their...
...bands can expect to score sneaker ads or globe-trotting tours. Record companies still need the music to make them money. But some 30% of the artists on EMI's books have yet to come back with a recording, and sliding CD sales mean that overall, only 3% of the label's artists are profitable. "The actual economic power of new music is declining at an extraordinary rate," says EMI's Hands. Keen to keep it alive, he is mulling changes to the way EMI's artists are rewarded. Out could go generous advances for some artists - "an excuse...
...format compatible with most digital music players. Its catalogue of 3 million songs - culled from all four majors - will be available outside the U.S. later this year; European music fans unable to wait can from this month download such unrestricted tracks by Warner Music and EMI artists from 7digital, a U.K. music site...