EMI Group Ltd. is looking to bind licensing with Universal Music Group to get off their declining deficit. The licensing agreement would mean Universal Music Group would pay $300 million over the span of five years to EMI to gain rights to distribute EMI's catalog in the United States with new and old musical artists such as Coldplay, Norah Jones, the Beatles and more. The idea of UMG buying EMI's licensing agreement lends to an idea of their tactic to spread music through their company, as well as a better promotional front of their company. UMG could look as a company that is willing to bail EMI out, as well as promote even more music through their labels. Marketing this issue is what will help UMG look more towards the future in terms of new contracts with new artists, and forging alliances with other music companies based under EMI Group Ltd. The music will now be under UMG, which would help me learn even more about licensing, musical artists, as well as marketing their music, as I apply for an internship with their New York based office.
For more information on the license purchasing, please visit:
http://www.businessweek.com/news/2010-03-30/emi-universal-music-said-to-resume-talks-for-catalog-update1-.html
The Beatles under EMI selling to UMG:
http://www.artistdirect.com/nad/news/article/0,,6486456,00.html
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