response 25 of 30:

Jun 18 18:02 UTC 2008

From Monday's NY Times, a feature on venture capitalist Guy Hands and
his tenure at the head of the EMI record company.  The most important
quote:


>>"An analysis by McKinsey and KPMG found that EMI had lost £750
>>million ($1.5 billion) from selling new music over the last 
>>five years.

>>"'We didn't believe it at first,' he said, explaining that the
>>figures that EMI previously reported counted sales of re-releases of
>>music from old acts like the Beatles as new music revenue."
<< endquote


Just, wow.  EMI's recorded music business is no longer creating any
value from new music -- in fact new music is a giant money pit and
it's probable that the corporation would benefit from shutting it 
down and just selling music from the back catalog.