Roger Ames: We Will Survive
http://business.timesonline.co.uk/articl...9071-2271569,00.html

Speaking at the EMI Group Annual General Meeting, Eric Nicoli, Chairman, said:

"We remain confident that the global music industry has excellent long-term prospects driven by the rapidly expanding demand for digital music. At EMI, we are enjoying impressive creative momentum, have exciting release schedules for both divisions, are generating very high growth in digital sales, and are on track to deliver the cost savings from our latest restructuring plan. We believe that we will, in this financial year, again deliver a strong operating performance, achieve our financial objectives and make good progress.

EMI Music has shown continued success in breaking and developing artists with long-term career potential. In this financial year, we have seen encouraging on-going sales from albums by KT Tunstall, Corinne Bailey Rae, The Kooks and Diam's. KT Tunstall's debut album, Eye to the Telescope, has now sold over 3m units, with Corinne Bailey Rae's self-titled debut album selling in excess of 1.5m units. Both artists show very exciting signs of further success, not least in the US.

In the financial year to date, we have also delivered promising new releases from established stars Hikaru Utada, Tiziano Ferro, Pet Shop Boys, Underoath and Bubba Sparxxx. Utada's latest album, Ultra Blue, has made an excellent start, selling more than 1m units so far. Digital products from the album have enjoyed remarkable success with almost 4m single tracks and ringtunes sold to date.

EMI Music's digital revenues continue to show strong growth, significantly more than doubling compared with the same period last year. Mobile products, in particular, are growing very rapidly and now account for over 40% of the division's total digital revenues.

Our planned release schedule for the remainder of the financial year is broadly based, comprising a healthy mix of global and local artists and encompassing both long-established and newly emerging superstars. The highlights include albums from The Beatles, Norah Jones, Robbie Williams, Janet Jackson, KT Tunstall, Joss Stone, Chingy, Stacie Orrico, Keith Urban, Trace Adkins, Dierks Bentley, RBD, Relient K and Renaud.

EMI Music Publishing has continued to enjoy impressive chart success across all major territories with releases from artists including Natasha Bedingfield, James Blunt, Nelly Furtado, Sean Paul, Pink and Rihanna. In May, we were again named Pop Publisher of the year by both BMI and ASCAP and, in June, ASCAP's Rhythm and Soul publisher for the 12th consecutive year. We continue in our efforts to ensure that the correct infrastructure is in place to identify and collect fully all future digital revenues. In particular, we are moving forward with the development of a pan-European 'one-stop shop' for the licensing of online rights, in partnership with MCPS-PRS and GEMA.

Releases from EMI Music Publishing artists Audioslave, Kelly Clarkson, Daddy Yankee, Missy Elliott, Norah Jones, Scissor Sisters, The Feeling, The Zutons, Usher, Kanye West and Pharrell Williams, feature in this financial year's schedule.

We are making good progress on the implementation of the latest phase of the Group's restructuring plan and are on track to deliver total annualised savings of