EMI Corporate Finance
Rev. Feb. 13, 2009
EMI GROUP PLC
In this Internet age, the consumer is using music content more than ever before— whether that’s playlisting, podcasting, personalizing, sharing, downloading or just simply enjoying it. The digital revolution has caused a complete change to the culture, operations, and attitude of music companies everywhere. It hasn’t been easy, and we must certainly continue to fight piracy in all its forms. But there can be no doubt that with even greater commitment to innovation and a true focus on the consumer, digital distribution is becoming the best thing that ever happened to the music business and the music fan.
—Eric Nicoli, CEO, EMI Group1
In early …show more content…
William B. Drewry, Jolanta Masojada, Nick Bertolotti, and Giasone Salati, “Global Music Industry, ‘Just the
Two of Us,’” Credit Suisse Equity Research, June 16, 2006. Sony BMG Music Entertainment was a joint venture owned by Sony Corporation and Bertelsmann. Universal Music was owned by Vivendi.
This document is authorized for use only by Carlo Adrian Portillo Cardenas in Corporate Finance - LMFI1 - Tower Bridge taught by Khaled Soufani at Hult International Business School, 2015
For the exclusive use of C. Portillo Cardenas, 2015
music), performance royalties (performances of a song on TV, radio, at a live concert, or in other public venues such as bars), and synchronization royalties (use of a song in audiovisual works such as advertisements or computer games). EMI included a fourth category of royalties labeled
“other,” which included sales of sheet music and, increasingly, mobile ring tones and ring backs.
Similar to the recorded-music division, the music-publishing division identified