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EMI Having Money Issues, But Still Does Deal With Hulu

7:16 p.m. · November 18, 2009 · by Chris Bosman

EMI Music, one of the "big four" major labels, became the first label to partner with the web video provider Hulu. Hulu created a channel specifically for EMI artist Norah Jones, and the company says that more exclusive channels for their other artists are on the way. This move seems to be in direct opposition to the new Vevo video service that Sony and Universal are helping to launch, which will provide viewers similarly to Hulu.

The Norah Jones Hulu channel provides concert footage, as well as her entire catalog of music videos. There is also an interview with Jones on the Hulu blog. Jones also has a new album, The Fall, coming out this week.

It may be a move of desperation for EMI, who are estimated to be $4 billion in debt, which the debt owner, Citibank, recently refused to restructure. The company also has not been able to provide any money to market any of their recent albums, and have not been able to sign any new artists. Many artists are wary of signing with a label that has overturned 80 of its top 100 executives since being taken over by Guy Hands. [The Daily Swarm and Hypebot]