EMI Executives Will Need 2-3 Weeks Just To Read This Post
Today’s Wall Street Journal examines the state of EMI, the super-sized corporation that recently merged together Virgin Records and Capitol Records, and which is currently experiencing what can only be described as “company-wide higgeldy-piggeldy.” The story highlights some of the company’s tactical mistakes of the last few years, such as relying too heavily on big-ticket acts (Coldplay, Radiohead), and obsessing about unrealistic sales goals. Oh, and doing stupid stuff like this:
At a time when it is considered critical for music companies to be nimble, EMI officials changed the protocol for striking digital deals, more than doubling the number of signatures required to as many as a dozen. Digital-media executives who have done business with the company say it can take three weeks for the company to sign a contract after both sides have agreed to its terms. These people say the typical interval is 24 to 48 hours.
Three weeks? That’s about the same amount of time it took most bloggers to leach, love, and then lash back against The Crane Wife.
Trailing Big Rivals, EMI Group Makes Strategic Changes [WSJ] [(reg. required, dangnabbit)