Home |
Search |
Today's Posts |
#1
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
http://biz.yahoo.com/rb/040331/media_emi_2.html
Reuters Music Giant EMI Axes Artists and 1,500 Jobs Wednesday March 31, 1:52 am ET LONDON (Reuters) - Music giant EMI will cut 1,500 jobs, axe one fifth of its recording artists and stop making its own CDs and DVDs in Europe and the United States in a bid to cut costs, the British firm said on Wednesday. ADVERTISEMENT EMI, home to the Rolling Stones, Coldplay and Radiohead, also said recorded music sales in the year to end-March 2004 held close to the previous year's levels, despite rampant piracy and competition from other entertainment. Announcing it would close its U.S. manufacturing plant in Jacksonville, Illinois and transfer its Dutch plant to another firm, MediaMotion, EMI forecast savings of at least 50 million pounds a year. EMI said it would take a cash charge of 75 million pounds and a non-cash charge of around 80 million, tied to writedowns and its shrinking artists roster, in 2003/2004. "The time is right to further reposition EMI Music. Exiting manufacturing in our two primary regions of Europe and the US will allow us to lower our costs while flexibly meeting our supply needs," said EMI Music's Chairman Alain Levy. "We believe that by concentrating our efforts on a tightened roster of artists we will increase our revenue-generating potential while reducing our costs." Niche and under-performing artists would go, EMI said, without giving names. In recent years EMI has seen two merger attempts blocked by regulators, one with Warner Music and one with Bertelsmann's music arm BMG. Last year it bowed out of the race for Time Warner Inc.'s music business. ($1=.5502 Pound) |
#2
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
"Johnston West" wrote in message
om... EMI, home to the Rolling Stones, Coldplay and Radiohead, also said recorded music sales in the year to end-March 2004 held close to the previous year's levels, despite rampant piracy and competition from other entertainment. "We believe that by concentrating our efforts on a tightened roster of artists we will increase our revenue-generating potential while reducing our costs." Niche and under-performing artists would go, EMI said, without giving names. So, let me get this straight... they're going to release even *less* music that people want to buy, practically guaranteeing that next year they will actually take a loss (which can be blamed on piracy, of course), and then they can tell everyone that it was their brilliant move to outsourcing duplication (eliminating *more* American jobs) that saved them? Are they sure they're not just trying to cover the cost of buying Barry Gordy's catalog for $80 million? Once again, stupidity. A child can look at the music industry and tell them that what they need is to release more niche artists, because people have stopped buying Brittany Spears and Backstreet Boys en masse. Hell, look at the indies, they're having their best year *ever* right now, because they're releasing the niche artists that people want to hear. Are they really this stupid? And if they are, do we really care if they go bankrupt? ryanm |
#3
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
Are they
sure they're not just trying to cover the cost of buying Barry Gordy's catalog for $80 million? if you are talking about his publishing, that was a great deal. The copyrights in that catalog make zillions. A child can look at the music industry and tell them that what they need is to release more niche artists, because people have stopped buying Brittany Spears and Backstreet Boys en masse. You seem to be a couple of years off. usher sold over a million this week. backstreet was over years ago. Spears is over 2 million on this release. Hell, look at the indies, they're having their best year *ever* right now, because they're releasing the niche artists that people want to hear. Which indies? --------------------------------------- "I know enough to know I don't know enough" |
#4
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
"EggHd" wrote in message
... if you are talking about his publishing, that was a great deal. The copyrights in that catalog make zillions. Sure, but they have to pay for it up front, right? You seem to be a couple of years off. usher sold over a million this week. backstreet was over years ago. You know what I mean. Mass market, lowest-common denominator, homogenized pop. Apparently they haven't figured out that not everyone wants to listen to usher. Which indies? See the "Some Industry News" thread I posted a few days ago. It contains links to several news articles, including one about many of the indies who are having their best year ever as well as some articles about ARIA having it's best year ever, despite it's prognostication of failure due to piracy, but utterly failing to mention it in it's annual report, instead lamenting the poor sales of cassette singles. ryanm |
#5
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
Sure, but they have to pay for it up front, right?
They paid a multiple. Jobette was a VERY sought after catalog. There aren't any like this left to pick up. You know what I mean. Mass market, lowest-common denominator, homogenized pop. Apparently they haven't figured out that not everyone wants to listen to usher. What makes you say this? And to the millions that will buy this they won't feel the same as you do about it. See the "Some Industry News" thread I posted a few days ago. It contains links to several news articles, including one about many of the indies who are having their best year ever as well as some articles about ARIA having it's best year ever, despite it's prognostication of failure due to piracy, but utterly failing to mention it in it's annual report, instead lamenting the poor sales of cassette singles. OK so you have seen an article saying the indies are doing well. You don't know which indies of which genre. --------------------------------------- "I know enough to know I don't know enough" |
#6
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
As of Sunday, in a week that saw five new releases in the Top 10, industry-wide
sales were up 13.7%, or 1.5 million units, compared to the previous week, and up 11.2% (1.3 million units) compared to the same week last year. For the year so far, album sales are up 9.2% (13.3 million units) over last year. Eleven of this years 13 weeks so far have seen increased sales compared to the same weeks last year. --------------------------------------- "I know enough to know I don't know enough" |
#7
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
"EggHd" wrote in message
... What makes you say this? And to the millions that will buy this they won't feel the same as you do about it. And the millioins who don't? Where is the new album for them to buy? That's what makes me say this. As long as they cut the niche artists and push the few that have the highest profit margin, they're going to continue to lose customers as they outgrow those few mainstream pop artists. OK so you have seen an article saying the indies are doing well. You don't know which indies of which genre. Rounder, for one. But I refer you to the other thread rather than retyping all of it here. See the other thread. ryanm |
#8
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
"EggHd" wrote in message
... As of Sunday, in a week that saw five new releases in the Top 10, industry-wide sales were up 13.7%, or 1.5 million units, compared to the previous week, and up 11.2% (1.3 million units) compared to the same week last year. For the year so far, album sales are up 9.2% (13.3 million units) over last year. Eleven of this year's 13 weeks so far have seen increased sales compared to the same weeks last year. Which makes me wonder where the losses due to piracy are.... ryanm |
#9
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
And the millioins who don't? Where is the new album for them to buy?
Sign them and promote them. As long as they cut the niche artists and push the few that have the highest profit margin, they're going to continue to lose customers as they outgrow those few mainstream pop artists. Sorry to tell you this but the niche artists have the highest profit margin and the pop artists the lowest. Rounder, for one. But I refer you to the other thread rather than retyping all of it here. See the other thread. Rounder does well, yet is distributed through Universal. You know who is one of the biggest indies? Welk Music Group owner of Vangaurd and Sugar Hill. --------------------------------------- "I know enough to know I don't know enough" |
#10
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
EggHd wrote:
OK so you have seen an article saying the indies are doing well. You don't know which indies of which genre. I dunno about the rest of the industry, but folk music is doing lousy right now. The classical market is also crappy, but it's been crappy for thirty years now, so that's no surprise. --scott -- "C'est un Nagra. C'est suisse, et tres, tres precis." |
#11
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
"ryanm" wrote in message ...
"EggHd" wrote in message ... As of Sunday, in a week that saw five new releases in the Top 10, industry-wide sales were up 13.7%, or 1.5 million units, compared to the previous week, and up 11.2% (1.3 million units) compared to the same week last year. For the year so far, album sales are up 9.2% (13.3 million units) over last year. Eleven of this year's 13 weeks so far have seen increased sales compared to the same weeks last year. Which makes me wonder where the losses due to piracy are.... ryanm They're in the additional higher sales increases that didn't happen due to music theft. You certainly don't seem to care about the loss of 1500 jobs. What is your music industry affiliation again? Mikey Nova Music Propductions |
#12
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
ryanm wrote:
So, let me get this straight... they're going to release even *less* music that people want to buy, practically guaranteeing that next year they will actually take a loss (which can be blamed on piracy, of course), and then they can tell everyone that it was their brilliant move to outsourcing duplication (eliminating *more* American jobs) that saved them? Are they sure they're not just trying to cover the cost of buying Barry Gordy's catalog for $80 million? Once again, stupidity. A child can look at the music industry and tell them that what they need is to release more niche artists, because people have stopped buying Brittany Spears and Backstreet Boys en masse. Hell, look at the indies, they're having their best year *ever* right now, because they're releasing the niche artists that people want to hear. Are they really this stupid? And if they are, do we really care if they go bankrupt? How's your lable going? Move a lot of product last year? Or did you bust a nut trying to keep the server stuffed to meet download demand? Curious minds want to know; I'm thinking of going into the music business. Might as well ask an expert. -- ha |
#13
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
ryanm wrote:
EggHd smartly posited usher sold over a million this week. backstreet was over years ago. You know what I mean. Mass market, lowest-common denominator, homogenized pop. Apparently they haven't figured out that not everyone wants to listen to usher. Of what artist will you and your fellow music appreciators be purchasing a million this week? Is the problem that a million is too big to be a niche? -- ha |
#14
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
EggHd wrote:
You know who is one of the biggest indies? Welk Music Group owner of Vangaurd and Sugar Hill. Does this mean that the more successful label would have in its lobby a bubble machine instead of a lava lamp? Just researchin' startegy here... -- ha |
#15
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
Scott Dorsey wrote:
I dunno about the rest of the industry, but folk music is doing lousy right now. Listen, pal, I just got home from over two hours of playing what might be niched as folk music, and I assure you there was nothin' lousy doin' about it. -- ha |
#16
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
"Mikey" wrote in message
om... They're in the additional higher sales increases that didn't happen due to music theft. Predictions have never been off? You certainly don't seem to care about the loss of 1500 jobs. I mentioned it in the very first response in this thread, but no one else seemed to want to talk about that part. What is your music industry affiliation again? I am both a musician and a consumer. ryanm |
#17
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
|
#18
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
In article , rogers1987
@msn.com says... The other "Label" artists will be salivating in anticipation and hope of being let go too, so that they can be free to participate as indies. How else could they get a better deal... Not with any label that puts profits and shareholders first and artists last. Those let go, will spring forward and grow, bigger and better than before. I'm sorry, but that paragraph had me laughing out loud... Talk about putting a spin on things. ---Michael (of APP)... |
#19
|
|||
|
|||
"Music Giant EMI Axes Artists and 1,500 Jobs"
Michael wrote:
Andrea says... The other "Label" artists will be salivating in anticipation and hope of being let go too, so that they can be free to participate as indies. How else could they get a better deal... Not with any label that puts profits and shareholders first and artists last. Those let go, will spring forward and grow, bigger and better than before. I'm sorry, but that paragraph had me laughing out loud... Talk about putting a spin on things. ---Michael (of APP)... Andrea's version of the Brave New Music Business is that people of whom no one has ever heard will be selling a lot of product because there is the Internet. I appreciate her enthusiasm for commercial freedom, and I agree that here and there some folks of whom nearly no one has heard are doing much better than they would if under the big label umbrella. But I don't understand how most unknown folks are going to get expsoure unless we see some serious revitalization of live performance opportunies. The folks I know who are doing nicely in the present situation have established a following for their live shows, and many of the people who go to those shows buy product directly from the artist. They're doing better than they might be, but in general they still cannot afford to own their own housing in America today. Forget medical insurance and other pleasantries. -- ha |