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Re: EMI To Crack Down On Artists
The new owner of EMI Group PLC has said he will drop artists the music group believes are not working hard enough and will overhaul the company's own executives' pay packages, the Financial Times reported Friday.
EMI, which has Coldplay, the Rolling Stones and Kylie Minogue on its roster, also threatened to withdraw stars' lucrative advances if record sales are disappointing, the FT said, quoting an internal memo to staff from the chief executive of the private equity firm that bought the company in August.
Guy Hands, the CEO of Terra Firma Capital Partners, said the company would in the future be "more selective in whom we choose to work with."
"While many spend huge amounts of time working with their label to promote, perfect and endorse their music, some unfortunately simply focus on negotiating for the maximum advance ... advances which are often never repaid," Hands said.
The report said the memo did not name any artists. The company, which Terra Firma bought for $4.9 billion, has been plagued in the past by late delivery of albums by some of its biggest acts.
Hands also criticized EMI's "compensation and management system put in place over the last 20 years which does not encourage the right behaviors or reward the right actions."
"What worries me is that the existing structures have been put in over a couple of decades and unpicking them in a way that releases the good in the company is not going to happen overnight," he added.
EMI did not immediately return a call for comment Friday.
Re: EMI To Crack Down On Artists
Here's another example of the industry worrying about quantity way before quality
And failing to adapt to changing surroundings. Instead of looking into future alternative releases (online, a la Radiohead) they pound their fist and say "Do it better so we will sell more!". THis guy won't last. Album sales will continue to decrease, he'll release all his big name acts, and other labels will pick them up.
- A Private Eye
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Re: EMI To Crack Down On Artists
If it encourages artists to write more than one or two good songs per album then it's not such a bad thing imo.
Re: EMI To Crack Down On Artists
A Private Eye wrote:If it encourages artists to write more than one or two good songs per album then it's not such a bad thing imo.
Right. But I don't think that's their intent at all. I take it to mean that they want more, faster. Seeing as the pace at which stuff is coming out now lends itself to the 2 or 3 good songs per disc deal, I can't see more faster bringing that number up any.
It seems like they are trying to rush artists into producing more and more albums to boost their album sales. It doesn't matter that the music is actually GOOD, just matters that they release albums like Buckethead, just without the talent of course. 
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