by Mike Masnick
Mon, Jul 28th 2008 1:46pm
The news that The Rolling Stones have ditched EMI for rival Universal Music is being painted in the press as the latest blow to EMI since it was taken over by a private equity firm. It's already lost Radiohead and Paul McCartney, and other artists like Coldplay have complained about the direction that EMI is moving in. However, before people bury EMI, perhaps it's worth looking at the upside for EMI here. The Rolling Stones, from the sound of things, were looking for a hugely lucrative deal, knowing that they were a premium brand. But EMI is in the process of trying to reinvent itself for the next generation of music. Getting tied into a hugely expensive deal with a legacy band would make that much more difficult. Yes, losing an old school big name band is a blow to the EMI brand, but the next generation may be a lot more interested in being represented by a label that actually understands the market, rather than one that is actively trying to fight where the industry is heading.
If you liked this post, you may also be interested in...
- World Is Catching On That Creativity And Creative Jobs Have Been Growing, Not Disappearing, Post-Napster
- Hollywood Keeps Breaking Box Office Records... While Still Insisting That The Internet Is Killing Movies
- Comcast Admits Broadband Usage Caps Are A Cash Grab, Not An Engineering Necessity
- Appeals Court Rejects Labels' Collusion Scheme To Try To Force Pandora To Pay Higher Rates
- Major Record Labels Use Lawsuit Against MP3Skull To Try To Backdoor In SOPA