EMI LABEL GROUP IS SOLD TO A FUCKING BANK
Thursday, February 3rd, 2011 at 12:02am by Vince NeilsteinIf I were in a metal band on EMI or any of their affiliated labels I’d be running for the hills. Metal Insider is reporting that the label group — one of the remaining “Big Four” major labels — has been purchased by Citibank. Yes, a label has been purchased by a bank. Too fitting in the dire record industry times and dire financial times of 2011.
On the surface this transaction doesn’t seem like it would have much impact on metal, but any major move involving one of the biggest label groups in the world, regardless of genre, is going to have a “trickle-down effect” on all segments of the industry, to borrow a term from my good friend Ronald Reagan. Many metal labels we know and love are distributed by EMI — Century, Season of Mist, Earache, and Willowtip among them — although I don’t expect this deal to really have much impact on those businesses; if shit hits the fan with EMI, I’m sure those labels can find other distributors for as long as distributors remain necessary (which isn’t very long). Moreso I’d worry that the absence of a major source of investment in music on the whole would just result in… less music.





MetalSucks, 