EMI suffers cash slump: blames Chris and Damon

by DiS News [Edit this content] ▾ 13 comments 11:56 February 7th, 2005

Shares in one of music's 'big four', EMI, have dropped by around 15% after it issued a profit warning due to disappointing sales and delays to two key album releases in 2005.

EMI said music sales for the year to March will fall 8-9% from the year before, with profits set to be 15% lower than perviously expected.

The corporation blamed poor post-Christmas sales and delays to the releases of new albums by Coldplay and Gorillaz.

Both LPs were previously expected to have pre-March release dates, but are now due for summer arrivals.

It should be noted that they did however, sell truckloads of Robbie n'Kylie records.

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EMI suffers cash slump: blames Chris and Damon

boo fucking hoo. maybe they should stop releasing shite.

josh | 7 Feb '05, 12:16 | X | Reply

Re: EMI suffers cash slump: blames Chris and Damon

Why?
People buy a lot of shite y'know.

Anschul @josh | 7 Feb '05, 12:39 | X | Reply

EMI suffers cash slump: blames Chris and Damon

Maybe they should stop making half of the company redundant to get hold of shit like Robbie Dickhead Williams or Mariah Carey.
If indeed that was EMI...I don't care to remember.

Psyche | 7 Feb '05, 12:49 | X | Reply

EMI suffers cash slump: blames Chris and Damon

Tragic.

Note that they still are making a profit though. But of course, this still makes headline bloody news on Radio 4.

(I don't listen to Radio 4... *ahem*)

Hoski | 7 Feb '05, 13:51 | X | Reply

Re: EMI suffers cash slump: blames Chris and Damon

well evidently not?

josh @Anschul | 7 Feb '05, 14:13 | X | Reply

EMI suffers cash slump: blames Chris and Damon

"with profits set to be 15% lower than perviously expected."

...and? Chuffin' 'ell, you'd think they'd gone bust or summat.

I've got an idea - why don't they drop all their CD prices to no more than £9.99 - they'd make a killing.

weymart | 7 Feb '05, 14:42 | X | Reply

Re: EMI suffers cash slump: blames Chris and Damon

good news on a monday.

Matt_alaskaleft @weymart | 7 Feb '05, 16:28 | X | Reply

EMI suffers cash slump: blames Chris and Damon

Nevermind.

euans_theme | 7 Feb '05, 19:11 | X | Reply

EMI suffers cash slump: blames Chris and Damon

Who are the other big three then? I believe its BMG/Bertlesmann, Sony and Warner? Anyway 15% is a lot when you think about how much they do make in profit. It must be tens of millions at least. However it isn't great business sense if you rely on current artists to make so much of your profit. What I'm trying to get at is that if they're know they're going to have a lean year, they should plan for it in advance.

CaviarAndCigarets | 7 Feb '05, 19:49 | X | Reply