EMI To Announce More Restructuring Today
Elio Leoni-Sceti, the new head of EMI’s troubled music division, will begin a three week global series of presentations to is staff that EMI "is still in the very early stages of its renaissance and the road ahead will not be smooth or easy," according to the Financial Times. He will tell the remaining members of this EMI team that the company will be split into three global business units: new music, catalog and music services.
Cost cutting is returning EMI to profitability and the new plan includes additional resources for marketing. But advance rumors of the announcement contain no hint of much needed A&R initiatives. EMI’s contribution to the heavy holiday sales season are anchored by heritage artists like Tom Jones, Sarah Brightman and a special edition release from Coldplay called "Prospects March ".