EMI Group Plc Chairman's Statement - 2004 Annual General Meeting
"On a global basis, the recorded music market has shown encouraging trends in the first few months of our financial year. The US market has now enjoyed ten consecutive months of growth and the next two largest markets, Japan and the UK, have also seen positive trends. The markets of Continental Europe, however, remain difficult. Digital music continues to develop, with the recent successful launch of new legitimate services in several countries.
"In our recorded music division, EMI Music, the implementation of both the outsourcing of manufacturing in Continental Europe and the US and the restructuring of selected labels is on schedule.
"Our release schedule so far has featured major new albums from the Beastie Boys and Lenny Kravitz. During this financial year, we have also seen good ongoing sales worldwide from a number of artists including Utada Hikaru and Norah Jones. In addition, Joss Stone's Soul Sessions and Keith Urban's Golden Road have each surpassed two million units in sales and Yellowcard's Ocean Avenue has reached more than one million. Our release schedule for the remainder of the year is strong, particularly in the second half, with new releases from artists including Chemical Brothers, Chingy, Coldplay, Glay, Gorillaz, Helmut Lotti, Joss Stone, The Thrills, Keith Urban and Robbie Williams.
"In this financial year EMI Music Publishing has continued to enjoy strong chart positions especially in the US, UK, Germany and France, with releases from a range of songwriters including Jamie Cullum, Kelis, Alicia Keys, Scissor Sisters, Usher and Mario Winans. We have finalised new synchronisation licences with many companies including American Express, Target and Jaguar. In April, we also completed our purchase of the final 20 percent stake in Jobete, the Motown song catalogue.
"As we highlighted in May, given the phasing of both our recorded music release schedule and the savings from our restructuring programme, we expect the second half to account for a higher proportion of sales and profits than it has in prior years. With this strong release schedule and the progress we are making in both of our businesses, we remain confident that we will achieve our financial targets for the full year."
Related News from Mi2N:
» EMI Group Plc Chairman's Statement - 2004 Annual General Meeting
» Women Make An Impact On The 2018 MPG Awards Shortlist
» Two-Sides of Copyright Finance: Sound Royalties & Kobalt
» Career Moves: ROLI, Live Nation Sweden, Music Glue, BBR Music Group, Warner/Chappell Music Spain & Blue Night Soundscapes
» Europe's Digital Music Leaders Form Alliance
» Deezer Becomes Miami Dolphins' Official Music Partner
News Beat Directory
» [2017-11-13] Women Make An Impact On The 2018 MPG Awards Shortlist; Nearly A Quarter Of Those Named This Year Are Female, Proving That Music Production Is No Longer A Bastion For The Boys
» [2017-11-13] The Nashville Musicians Sound Healthcare Plan Rolls Out; Sound Healthcare & Financial Announced The Formation Of A True Group Health Insurance Policy Plan For Musicians And Industry Professionals
» [2017-11-09] Streaming & Listening Diversity - Spotify Case Study; Will Artists Have An Easier Time Finding An Audience, Or Will Streaming Focus Global Attention On A Small Number Of Stars?
» [2017-11-09] Two-Sides Of Copyright Finance: Sound Royalties & Kobalt; Sound Royalties Unearths Millions In Undistributed Royalties While Kobalt Launches Fund To Invest In Music Copyright
» [2017-11-08] Career Moves: ROLI, Live Nation Sweden, Music Glue, BBR Music Group, Warner/Chappell Music Spain & Blue Night Soundscapes; ROLI Chief Creative Officer, Live Nation Sweden Managing Directors, Music Glue Global Head Of Business Development, BBR Music Group VP Of International, Warner/Chappell Music Spain Managing Director And Blue Night Director Of Music Clearance
» [2017-11-08] Europe's Digital Music Leaders Form Alliance; European Digital Music Companies Launch Of Digital Music Europe
» [2017-11-05] Pandora Subscriber Base Grows To Over 5 Million; Pandora Premium Paid Subscribers Cross The 1 Million Milestone In October 2017
» [2017-11-05] Hybrid Studios Announces Online Mastering Services; Engineers Billy Klein And Brian Frederick Spearhead New Online Mastering Effort Through OC Studio
» [2017-11-05] Music Industry Betting On VR & AR For New Revenue; The Music Industry Is Making An Early Bet On VR & AR To Create New Revenue Streams Across All Their Lines Of Business
» [2017-11-04] Sound Royalties Unearths Millions In Undistributed Royalties; Nearly $14 Million In Undistributed Royalties Has Been Found By Music-focused Finance Firm Sound Royalties
» [2017-11-02] MusicDish*China October China Label Music Releases And Charts; Several Tracks From October Releases Have Charted On Chinese Music Portal Kanjian ING Top 10 Weekly Chart
» [2017-11-01] Deezer Becomes Miami Dolphins' Official Music Partner; Deezer's Flirtation With The Sports World Appears To Have Just Begun
follow MusicDish on