Warner Music Group is the favorite to win EMI Group ’s catalog of recorded music after bidding $1.5 billion to $1.6 billion, two people with knowledge of the talks said. Photographer: Chris Ratcliffe/Bloomberg
Even the music industry is feeling the economy strain…
EMI Music is considered one of the leading music companies worldwide. Artists such as The Beatles, Snoop Dogg and Norah Jones have all added to EMI’s infamous reputation. However, even with lucrative artists such as these, EMI Music was unable to keep up with the failing economy and had to come up with a plan to push forward.
Six years later…
According to Adegoke and Damouni, Warner Music Group Chairman Edgar Bronfman Jr. is set to win the auction for the recorded music side of EMI (2011).
My question is what does a merger like this really look like for the music industry? There are a variety of music label entities all around the world. Warner Music Group is definitely a heavy contender in the industry and with an acquisition like EMI; this could be looked at like a monopoly.
Warner Music Group will now have an even more diverse population of successful artists that they will be working with. This is a very lucrative opportunity for Warner but I can’t help but think how this affects the unknown musician.
We’re just getting started and trying to figure out what our niche will be in the music perspective. A decade ago, you could create a demo and shop it around to multiple labels. All you needed was one yes to get your foot in the door. Now with many labels being bought out and placed under one umbrella, the yes opportunities are becoming few and far between.
Although I’m still in the process of preparation in regards to my music career an acquisition like this makes me nervous. What if I don’t get the chance to live out my dream because the huge Warner umbrella said no? They have to see a “product” that will make them money in order to take a chance on my unknown talent.
Too many “what ifs…”
EMI Acquisition: http://www.reuters.com/article/2011/10/27/emi-idUSN1E79J1J320111027
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