Financial Times publishes an article about the dire situation in which EMI finds itself...
It looks like the music industry is meeting the fate that has been predicted for many years. If, by June 14, 2010, £120 million is not raised by investors believing in a new strategic plan, all may very well be lost.
It is, finally, time for these music behemoths to fail. For years and years they haven't been effective purveyors of product and artist discovery and development. Not to mention how they continue to screw artists out of royalties.
It is time, finally, for a new structure, one that cares about the art of making music, and those that make it, to be reconstructed. It will probably take a generation or two, but it needs to happen.
In my lifetime I've seen record companies go from an artist, and fan, centered business to a bunch of creepy suits and bean counters who really think Lady Gaga et al is their answer. I've witnessed the best and the worst; and it's time for the worst to go away.
It looks like the music industry is meeting the fate that has been predicted for many years. If, by June 14, 2010, £120 million is not raised by investors believing in a new strategic plan, all may very well be lost.
It is, finally, time for these music behemoths to fail. For years and years they haven't been effective purveyors of product and artist discovery and development. Not to mention how they continue to screw artists out of royalties.
It is time, finally, for a new structure, one that cares about the art of making music, and those that make it, to be reconstructed. It will probably take a generation or two, but it needs to happen.
In my lifetime I've seen record companies go from an artist, and fan, centered business to a bunch of creepy suits and bean counters who really think Lady Gaga et al is their answer. I've witnessed the best and the worst; and it's time for the worst to go away.
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