Music business

EMI Music triples full-year earnings

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.

This article was written for an earlier version of The Daily Roxette.
Technical errors may occur.

  ★ The author:
Visa Kopu

  ★ Publishing date:

May 8th, 2009

Internal reference code for TDR's Good Reporters: [tdr 111281]

This article was posted here on TDR in these categories:

Archive, TDR:Music Business, vintage.

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