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EMI’s Hands challenges other labels to play hardball

EMI label head Guy Hands is challenging the rest of the recording industry to match his plan for the company’s future. Hands said that EMI has “a sensible plan to survive” and that he would hate to find his company as the largest in the recording industry “simply because all of the others have died.” Though Hands seems confident, his policies haven’t been popular with EMI’s roster of artists. After dealing with the departure of Radiohead and potential strikes from Robbie Williams, Coldplay and the Verve, Hands has gone on the offensive, stating that “a third of the artists who sign with EMI will never make an album,” and that the label will be “dropping a fair number of them.” While Terra Firma, the corporation who installed Hands, has found itself cast as an evil corporate raider looking to strip EMI of its assets, the label is at least taking steps to be more competitive in the changing music industry. Though Hands’ policies may seem draconian in the short term, he’ll look like a genius if EMI attains any degree of profitability in the near future. [Daily Swarm]
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