EMI Get On The Rights Track

Music giants EMI have officially repositioned themselves as a ‘rights management’ company, bringing their recorded and publishing divisions together.

Former EMI publishing boss Roger Faxon will take charge of the integrated group as CEO. The dramatic restructuring is evidently part of EMI’s response to the ongoing problems facing the recorded music industry. Despite still boasting a roster including artists such as Coldplay and Kylie, EMI have been through some well documented tough times in recent years, announcing £1.75bn losses in February this year. Their investors, Terra Firma recently had to provide a £105 million cash injection into the company.

In an official statement issued this week, the company described its future strategy as aiming to become “a comprehensive rights Management Company that can take full advantage of all global opportunities in all markets for music. This will maximise the experience and skills which exist within both EMI Recorded Music and EMI Music Publishing under one global head”.

EMI are part of the ‘big four’ major music companies alongside Warner, Universal and Sony.

Have your say: Was this realignment inevitable and will the other major players consolidate their assets in a similar fashion? Will this mean a move away from signing music and bands, and instead, a prioritisation of TV format development along the lines of X Factor where more rights can be exploited? Are EMI saying that signing new music is a thing of the past and that they’ll be concentrating on their extensive and popular back catalogue? And will this move ensure the long-term survival of EMI? Let us know what you think.