EMI Looks To Cash In On Catalog
August 22, 2007 at 5:44 AM (PT)
Executives at EMI GROUP, which is being bought by private equity firm TERRA FIRMA, are working on ways to squeeze new revenue from the company's catalog of artists and songs from THE BEATLES to THE BEACH BOYS, reports REUTERS. EMI has formed long-term strategic relationships with advertising agencies such as SAATCHI & SAATCHI and DDB to find new ways to repackage music and create music-related products around its artists' recordings and songs.
"Our back catalogue is so prestigious and so rich in heritage in its impact on pop culture that half our effort is reminding people and recreating awareness of the music's availability, " said EMI MUSIC MARKETING Pres. RONN WERRE.
Over the next year, SAATCHI & SAATCHI will help EMI seek new ways for fans to reconnect to music they might hear on a commercial or TV show and ultimately translate that into a transaction, WERRE said in an interview.
Some analysts say the high price of $4.8 billion (2.42 billion pounds) that TERRA FIRMA is paying for EMI can be justified in part by its strong catalogue and the brand names of its artists.