Distributors of physical music are suffering in the current climate, with news yesterday that Pinnacle has gone into administration followed by new revelations that major label EMI is looking to exit physical distribution of its products altogether.
Seems the major is speaking with other major labels in the US with a view to letting go of its warehouses and distribution network there for a sum of up to $30 million. Instead of handling physical product in an ailing market, EMI will have its music ferried about the United States by a competitor.
TechCrunch has the skinny on the story, claiming the application will include a NIN-centric theme, as well as over a dozen of the band’s songs from its last two albums. The partnership is among the first to bring licensed content to an iPhone application, and will likely prompt a wave of similar deals.
Warner/Chappell Music Chairman and CEO David H. Johnson announced today the appointment of Scott Francis to the newly created position of President, Warner/Chappell Music, and Chairman and CEO, Warner/Chappell Music U.S.
Edgar Bronfman, Jr., Chairman and CEO of Warner Music Group, said, “In looking for a head of Warner/Chappell’s U.S. operations, we wanted an executive who not only has a deep understanding of songwriters and music publishing, but one who also has a vision of how to position a music publishing company to seize the opportunities presented by the industry’s rapid digital transformation.” Continue reading →
Sony BMG Music Entertainment lost $49 million on sales in its first fiscal quarter, the company confirmed yesterday. This contrasts with the same period last year, when the company had a new income of $21 million.
The company’s three best sellers this year have been Usher’s Here I Stand, Leona Lewis’ Spirit and Neil Diamond’s Home Before Dark. Continue reading →