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...
- Struggling Canadian News Agencies Ask Government For A 'Google Tax'
- You Have To Distort The Facts Pretty Badly To Argue That Google & Facebook Are Worse For Consumers Than AT&T
- Elton John, Anti-YouTube Crusader, Partners With YouTube For Public Music Competition
- Yes, I Was Deeked By Two Hoax Kim Davis Stories Today
- Appeals Court Rejects Labels' Collusion Scheme To Try To Force Pandora To Pay Higher Rates