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Archive for November 2nd, 2008

EMI Loses Big Money

Posted in Coldplay, Katy Perry on the November 2, 2008

According to a new report, the label of Katy Perry and Coldplay, EMI, lost a whopping $1.2 billion in the fiscal year ending March 31st of this year. The year before, the company lost a cool $455 million. Ouch! Analysts say that the loss can be blamed on poor operational performance. Specifically, “a hig-spending culture (including high executive salaries), overly traditional artist relationships and poor reporting of date related to artist profitability.” Katy Perry and Coldplay’s latest hits went on the scene after March 31st and have done pretty well. Let’s hope that’s enough to help EMI’s numbers look a little better next year.

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