Will record giant EMI ever recover from the $2.48 billion loss?
I suppose it could. It seems like it may have dug itself too much of a hole to get out of. It all really depends on whether its creditiors give it time to recover. The first article mentions that they are doing better this year then last year so that may convince the creditiors that things are turning around. All the major labels are in some degree of trouble as they initially failed to adapt to the internet age. Instead of embracing the technology and looking for ways to make money off it, they spent quite a while fighting it. Given that the future of most music distribution probably lies with the internet, that was a pretty short sighted thing to do. But they were all on top of the world making more money than ever 10 years ago and got a little carried away with themselves. It’s always a shame to see older companies with a past reputation for quality fall on hard times but the inevitable result of falling sales is bankruptcy and consolidation. 1: The recession may have hurt sales con
