Monday Morning Business Notes, Links
EMI's restructuring has eliminated an "indefinite number of positions" at EMI Christian Music Group. Regional sales offices in Atlanta and Chicago have been closed. EMI CMG's will continue with its deal with Midas Records, which gives EMI CMG worldwide rights to to general market, Christian and digital distribution of Midas' Christian roster. One of the label's highly touted new acts is Rush of Fools. (Read article at Christian Post)
Sanctuary Group reported an operating loss of £56.7 million ($111.7 million) for the year ending September 30, 2006. It included £8 million for refinancing and restructuring. Revenue was down to £133.2 million from £148.1 million. That was quite an improvement from the previous year's loss of £136 million. Rough Trade, which is partially owned by Sanctuary, posted a loss for the year. The company said it is considering selling off some assets. Management sees a return to profitability by "2008 or later." (Read article at The Guardian and the press release)
According to co-founder Chad Hurley, YouTube will start sharing revenue with its users. This applies for videos for which the user owns the copyright. Sounds like a lot of police work to make this happen. (Read article at BBC, via paidContent)
Must be a lot of paperwork involved: The University of South Carolina has hired a full-time employee to receive the RIAA's copyright complaints. (Read article at The Charlotte Observer)
[music jobs] HR Manager at EMI NA; New York, NY.
Music Groups
