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Nothing May Stop EMI purchase by Warner

Warner Music Group CEO Edgar Bronfman Jr. continues to tease the industry with his refusal to commit to whether EMI will be bought by Warner, the third largest label in the world, following Universal Music Group and Sony Music.

“From a regulatory standpoint,” Bronfman is said to have stated, “further consolidation in the recorded music industry is possible.” Even though he was referring to the stamp of approval by the European Union regarding the famous merger of Sony Music and BMG, many speculate that he may actually be referring to the potential merging of Warner and EMI, two financially-troubled labels of which the futures of neither one are clear.

While EMI reported an annual loss of USD$2.4 billion only recently, Warner Music also reported a quarterly net loss of $17 million just 2 weeks ago.

“Our goals remain focused on delivering strong returns on A&R investments while we develop new business models, diversify our revenue mix and fortify our digital leadership position,” Bronfman stated in a press release.

22/02/2010 Posted by | Music News | , , , , , , | 1 Comment

VEVO strikes deal with AT&T

riocaraeffRio Caraeff, CEO of VEVO, just announced that they have struck a branding and marketing agreement with AT&T, for the latter to support VEVO across their platforms. “The AT&T brand has come to symbolize innovation, convenience, flexibility and global inclusiveness to millions of consumers, and we are delighted that the company has joined us as one of our key launch participants,” Caraeff announces.

Exclusive video content will be made available to fans on the VEVO platform, which runs on Youtube’s video-streaming technology. There will also be a VEVO-branded embedded player. “When you can reach people while they’re pursuing one of their passions and help them learn, do or share something important to them, you can more strongly demonstrate how your brand is valuable and relevant to their lives,” says Chris Schembri, VP of Media services for AT&T.

“Music and entertainment are two of the broadest-reaching and influential ‘passion points’ for consumers, and aligning our brand with a new property like VEVO gives us a chance to reach them in fresh, meaningful ways.”

28/10/2009 Posted by | Music News | , , , , , , , , , | Leave a comment