EMI Music triples full-year earnings
Written by roxeteer on May 8, 2009 to Music Business. 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.
Other articles with the same topic
- Billboard mentions Roxette (February 26, 2011)
- Citigroup takes control of EMI (February 1, 2011)
- Kobalt signs Roxette in North America (January 13, 2011)
- Record "The Look" and win $5,000 shopping spree (August 11, 2010)
- Scotts covers "It Must Have Been Love" (March 1, 2009)
4 comments
n-Somnia said on May 8, 2009 07:39:
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...
davidc4 said on May 8, 2009 11:44:
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
tevensso (moderator) said on May 8, 2009 15:23:
So sales rose 4 %? Strange considering the record companies claim there are no one buying records anymore.
Majdy said on May 8, 2009 07:16:
Maybe soon, Roxette will contribute more with new album ;)