January 16, 2008

EMI's pain not necessarily music rivals' gain

EMI lost two of its biggest acts in 2007, is in danger of losing more, has seen record sales slump and on Tuesday announced major layoffs. But the label's pain is not necessarily its rivals' gain. While some of EMI's problems are home-grown - including a poor release schedule last year and doubts about its new management's style - all four big record labels face tumbling sales at a time when stars have more choice than ever over how to market music. (Reuters)