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EMI Music triples full-year earnings

Written by roxeteer on May 8, 2009 to . Source: The Press Association.

LONDON - EMI Music, Roxette's record company since the very beginning, has made a good financial result after years of severe problems. The year 2008 was the first full year under the ownership of private equity group Terra Firma. Terra Firma's harsh cost-cutting program led to axing a third of EMI's workforce, but was also financially successful. EMI Music posted earnings of £163 million (183 million Euros) which more than tripled the earnings compared to the previous year.

The total sales went up 4%, thanks to EMI's biggest-selling artists Coldplay, Lily Allen and Katy Perry.

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Maybe soon, Roxette will contribute more with new album ;)

I hope the people that were responsible for Roxette’s lack of publicity in the States since the mid-90’s were among those who were sacked. :-P Sounds mean, I know.

Perhaps the US will notice them more after this? Who knows...

lets hope they dump EMI into the past and get a new record deal

its a shame EMI made a profit, would of been better for their artists(having to get a new label) if they had gone bust :P

So sales rose 4 %? Strange considering the record companies claim there are no one buying records anymore.


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