EMI Faces Job Cuts to Meet Digital Challenge
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British music label EMI will cut up to 2000 jobs to increase Internet sales by promoting digital music, and boost its roster of talent.
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Struggling music company EMI Group PLC, beset by profit warnings and an accounting scandal in Brazil, was thrown a potential lifeline Tuesday with a possible new takeover bid by former suitor Warner Music Group.
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The world&#39;s third largest music label, EMI, saw its revenues from digital music increase by more than 300 per cent in the six months to 30 September, the company said today.
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Executives from Nokia and Philips published an open letter today calling for the European Commission to consider scaling back, if not eliminating, imposing levies on digital recording media and playback devices, including DVRs and MP3 players. But the alternative may be a hard sell: increased DRM.
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EMI Group PLC, one of the world&#39;s biggest music companies, reported a small loss for the first half of its fiscal year Friday but said it expected an improvement in the second half which will reflect the release of several new albums that
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EMI, the world&#39;s third-largest music group, has reported a 7 percent drop in first-half profits but says the beleaguered industry is rebounding as digital music sales start to take off.
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EMI, home to artists such as Robbie Williams, Radiohead and Norah Jones, reported explosive growth in digital music sales yesterday and said it was winning the battle against piracy.
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EMI Group PLC, the world's third-largest music company, confirmed on Friday it faced a New York probe into how music companies influence what songs are played on the radio.
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EMI, the world's third largest music label, is actively considering removing the digital rights management restrictions from its song catalog and selling tracks online in MP3 format, according to a report published in The Wall Street Journal Friday.
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Eastman Kodak Co., the world&#39;s biggest photographic company, said it will shed almost 900 jobs in Europe to concentrate on the digital market and cut costs as demand for traditional film products declines.
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EMI has blamed a weak release schedule for a failure to exploit an improvement in the music sector, with sales falling by more than four times the industry average.
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EMI Group, the struggling British music company, has said it has received a fresh takeover approach from US rival Warner Music.
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EMI Group PLC, beset by profit warnings and an accounting scandal in Brazil, was thrown a potential lifeline yesterday with a possible new takeover bid by a former suitor, Warner Music Group.
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Steve Jobs: credit where very little credit's due EMI is close to removing rights management software from its digital music for good, in a move which would pile pressure on the rest of the recording industry to follow suit.â¦
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The new owners of music label EMI Group Â home of the Rolling Stones, Coldplay and the Spice Girls Â said Tuesday that they plan to cut up to 2,000 jobs, or just over a third of its work force, in a restructuring aimed at offsetting the impact of falling revenue from CD sales and the departure of several of its major artists.
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Music group EMI, which announced last month it had received a preliminary takeover approach, has said that discussions with the potential bidder had been called off.
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Electronic Data Systems plans to cut 15,000 to 20,000 jobs over the next two years, as the struggling technology services giant tries to slash costs and regain its footing.