Changes Coming For EMI South East Asia March 25, 2008
- Global
By Lars Brandle, London
The axe is hovering over some of EMI's Asian operations. Well-placed sources at the music major say staff in south east Asia will be notified tomorrow morning (March 26) of proposed structural changes, which are to be ushered in as part of a corporate effort to turn the region's business around.
According to a report, EMI will shutter its Hong Kong office, and exit various markets. It is claimed that the company will forge distribution deals with third parties in those markets where the company ditches its physical presence.
At an official level, EMI remains cagey on what its plans entail.
"EMI remains fully committed to the Asian music market and we are currently exploring a number of options for growing our business in the region in a more profitable way," Jean-Francois Cecillon, president of EMI Music International Labels, said in a statement. "Those options include partnering with another company or companies."
These options, however, will not be brought into play before July, an EMI statement explains. EMI Music Japan, Australasia and India remain unaffected. An EMI spokesperson declined to comment.
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