Wal-Mart Flexes Music Muscle – AC/DC Deal Moves 780,000 – Popular Downloads Now 74 Cents
Just in time for the silly season, Wal-Mart is flexing some serious music muscle in an industry that is basically knocked out on its feet. This past week, AC/DC sold more than 780,000 copies its first new album in over 10 years Black Ice. The exclusive retailer deal, with a substantial marketing rollout by both Wal-Mart and Columbia Records, demonstrated the retailers clout with consumers. In addition, Wal-mart relaunched their...
EMI Takes Major Hit – Loses $1.2 Billion This Past Year
EMI Music Group has recorded a whopping £757 million ($1.2 billion US) for the year ending March 31st. Revenues dropped 19% ($2.3 billion) compared to year-earlier losses of $454.5 million. According to EMI, the serious downturn is the result of weak performing artists, major accounting and restructuring write-offs, and various depreciation and financing costs. During the period, market share also dropped to 9% from 12%. EMI had...
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