Despite the recent turbulence at EMI, the label has seen its fortunes turn around lately. Their first quarter revenue was up 61% over last year, despite the leak of the EMI's biggest blockbuster this quarter, Coldplay's Viva La Vida. The improvement caused new EMI honcho Guy Hands to give out the props, noting in a staff email, "I believe these numbers are a demonstration of EMI Music’s significant progress and all your enormous efforts to transform this business.”
The news comes after EMI was controversially taken over by Terra Firma, which had everyone from Radiohead to Paul McCarntey sending angry retorts EMI's way. There have also been significant layoffs at the label, which will further increase the profit margin from the revenue boost.
[Gigwise]
He should probably just thank Chris Martin, no?
Gabi, so can I uh, get a job? :)
Gabi, please put me on the job wait list too. Thanks!