It has just been finalised that EMI lost a huge $1.2 billion in their financial year ending March 31st. This figure dwarfed the prio year’s $455 million in the red.
Some losses stem from restructuring after Terra Firma’s takeover. But EMI underperformed its competitors using most benchmarks. CD sales at EMI fell 45% from 2005 to 2007 compared to an average market decline of 19%. EMI projected 51% revenue growth in digital saled and delivered 29% growth despite being the first to drop DRM.
“There should be no false expectations,” the report stated. “EMI cannot be turned around overnight.” I dont see how EMI can get out of this current situation, and im sure in the current global economy situation there is no chance anyone will acquire what is left of the EMI assets.