Under New Emi Plans...
EMI will allow its artists, who include Coldplay and Kylie Minogue, to be sponsored by corporate companies, according to reports. The proposals, which could see Coldplay’s new album ‘Prospekt’ released with corporate branding, are expected to feature as part of an extensive shake-up of the company.
Terra Firma, EMI’s new owners, believe the plans would help increase the label’s revenue as it struggles to meet the growth of the digital marketplace. Earlier Today, Guys Hands, the private equity firms boss, confirmed that up to 2,000 staff would lose their jobs at the record label.
The job cuts, which will focus mainly on the recorded artist division, are the equivalent to nearly one third of EMI’s entire workforce. Terra Firma took over EMI last August in a deal worth £3.2 billion.
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