Black Christmas for EMI?
p2pnet.net News:- Bad news for EMI shareholders.
The “intensively competitive” Christmas period is going to be an uphill battle for the company, says The Times Online.
And not only but also, the Big Four Organized Music member EMI needs at least three blockbuster sellers to make enough money meet full-year revenue expectations, says the story, stating:
“That Rudebox, the first single from Williams’ album, has been widely panned does not bode well for sales of one of the group’s biggest stars.”
EMI, and Warner Music, Vivendi Universal and Sony BMG, the other three members of the Big Four cartel, are going flat out in a hugely expensive PR propaganda blitz custom-built to paint them as hard-working, honest companies beset on all sides by criminal consumers who get up, each morning, determined to steal them blind by sharing music with each other online.
So they’re suing their own customers to gain control of them online in the same way that they control them in the offline world.
“In its favour, the doomsayers were wrong over the fraud at EMI’s Brazil division, revealed in October,” says The Times.
At the time, EMI estimated the fraud, “resulted in an overstatement of EMI Music’s revenue by about 12 million pounds ($22.5 million),” saying it would suspend members of the senior management at its Brazilian business and conduct a full investigation.
Meanwhile, EMI, “swung to a loss of 30.6 million pounds ($58 million) in the first half of the year as new albums by its top artists were slated for release in the second half,” says MarketWatch, adding:
“EMI on Wednesday confirmed a one-off, 9 million-pound charge and added that given the disruption of the business, EMI Music’s operations in Brazil would likely underperform in the full year.
“Management also said it was confident no similar problems would be discovered at other units.”
Also See:
The Times Online – EMI: Heat on for Christmas, November 15, 2006
full investigation – EMI uncovers Brazil fraud, October 25, 2006
MarketWatch – Microsoft given nine day interop deadline, November 15, 2006
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