Saturday, November 3, 2007

"EMI Record Boss: Greedy artists need to work harder"

Lily Allen, Coldplay, Robbie Williams and Kylie Minogue are among a number of acts under threat because of radical plans by British music label EMI to drop recording artists who are "not working hard enough" for their label. New boss Guy Hands, who took over the company in August (07), has slammed greedy singer/songwriters signed to any of the company's subsidiary labels - including EMI records and Parlophone - for requesting huge advances and giving little in return.
In a leaked memo obtained by British newspaper the Financial Times, staff are warned that no star is safe under the new regime. Hands writes, "Some (artists) unfortunately simply focus on negotiating for the maximum advance. "There is no reason why we should not be more selective in whom we choose to work with." No specific artists were named in the memo. In 2001 EMI forked out $39 million (GBP19 million) to get out of a contract with Mariah Carey, just one album into a five album deal. The singer went on to have one of the top-selling albums of 2005 with EMI's rival, Universal.

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