The Wall Street Journal's Take On EMI's Reorganization
January 17, 2008 at 5:36 AM (PT)
THE WALL STREET JOURNAL's JIM FUSILLI comments on EMI's recent reorganization in today's edition. He writes it remains to be seen whether EMI's reorganization of its music division, announced TUESDAY, will matter to consumers. But if we can take EMI and its parent, TERRA FIRMA CAPITAL PARTNERS, at their word, the changes could improve the way talented rock and pop musicians and their music will be discovered, nurtured, recorded and marketed by the struggling giant.
The company says it will focus on developing artists and help open new income streams for them. It will centralize sales and marketing, and slash its roster of artists -- only 5% of the 13,000 now under contract make a profit.
EMI tells the WSJ it will begin doing what it should have been doing all along -- signing fewer acts, developing the ones with potential, then marshaling its resources to market their records and ensure they're properly compensated.
Read the full article here.