Pull your finger out says new EMI man to artists
Words Luke Turner
In a memo leaked to the Financial Times, Terra Firma boss Guy Hands has spelled out more of his desire for “fundamental change” in the way his recently acquired EMI record label is run. The memo will be seen as further evidence of a very hands on approach from the Terra Firma team, many of whom come from non-music related business backgrounds such as motorway service station management. Indeed, word reaches us that the new climate has led to employees of the record label referring to it as “shirt and tie”.
In news that will trouble bands not keen on the promo merry-go-round, Hands says EMI must examine its relationships with its artists and, if necessary, get tough with those perceived to not be working hard enough to sell their music. “There has been a lot of talk about what labels offer to artists and to the consumer,” he writes. “However, there is not much talk about how artists should work with their label. While many spend huge amounts of time working to promote, perfect and endorse their music, some unfortunately simply focus on negotiating for the maximum advance… advances which are often never repaid.”
In the future, Hands continues, artists who do not comply may find themselves without a home at the label. “There is no reason why we should not be more selective in whom we choose to work with.”
However, Hands was more positive about technology, which in the form of the internet and file-sharing software, is currently giving record executives sleepless nights: “Technology should be seen as an enabler, rather than a threat to our long-term economic success and, as I have said before, we need to embrace it.”
He adds that he’ll be looking to bring more executives from outside the music industry into the business as he makes his vision a reality. Under the stewardship of himself and Terra Firma, EMI would develop “the right culture which has at its core honesty, transparency and performance, then we will be able to attract, retain and develop the very best artists.”
This might come as some surprise to Radiohead, who have recently departed from EMI in favour of UK independent XL. Indeed, rumours suggest EMI’s decision to release a box set of Radiohead’s albums was made with no consultation with the band, who were said to be upset at what was perceived as an act of corporate revenge after the band jumped ship and gave away new album In Rainbows for free.
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