EMI Reports $2.4 Billion Loss. Needs $160 Million To Avoid Citi Loan Default - hypebot

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greg

How can EMI be skint? ... have u seen their roster?

http://www.emi.com/page/emi/ProfiledArtists/0,,12641,00.html

How can u mismanage those artists ... somethings amiss!

louisbmayer4

Ha ha. EMI was the first company to remove DRM for short-term prop up but it has backfired!

Idiots!

"Live by free model, and you will die by the free model." -- Marc Cuban

rich ait

piracy and lack of common interest in buying music. Thats how.

The Insider

Time to recycle those aluminum cans and bottles LOL. That or hold a company bake sale. The emphasis is on "bake".

gdubmedia

Wow....sucks for EMI. They, and the other "Big Three", have refused to admit the traditional model of the "Record Label" doesn't work anymore, and have refused to change their tactics.

If they go under, it'll be no big deal. Probably for the best they all do. We'll get better music, and better ways of getting music.

Brian

Piracy is NOT the problem, it is the recording industries inability to adapt to the digital world. They keep talking about how the CD is going to be the savior of the industry. Instead of using free torrent sites to promote interest in music and draw larger crowds to concerts and other places where they can purchase merchandise and other tangible goods which would bring in a lot more money. When you shun your biggest fans, they will tell a ton of people about the bad experience, and those people will stop buying and so on and so forth. And its not just about throwing stuff out there for free either, you actually have to work to CONNECT with the fans and give them an EXPERIENCE. If you just put stuff out there you won't make money unless you work to create a new business model based on new and changing times.

Brian

You are a moron, EMI and the rest of the major labels shot themselves in the foot 10 years ago when the digital age first arrived. Instead of looking for ways to use this new technology to their advantage they attempted to turn an infinite good into a scarce good which the basics of economics will not allow in the long run. And its a whole lot more about just giving away music for free, as I mentioned in another comment you have to work to connect with fans, bring them in to concerts, to a website, to places where they can buy other things. You make a fan feel special and they will stick with you. You treat a fan like dirt, and they tell 10 other people about how you treated them.

You use free music as a started to draw in attention, you then build a business model to take advantage of that attention and harness and use that to make money. The Grateful Dead is a great example.

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