January 16, 2008 09:01:44 GMT
EMI artists will, reportedly, soon be allowed to seek branding sponsor to release their albums.
EMI is going through a lot of changes this year. After announcing that they will cut about 2,000 staff, rumors are circling that the record label is seeking a new approach at handling the release of its artists' albums.
EMI will, reportedly, allow its 'remaining' artists like Kylie Minogue and Coldplay to seek sponsor from corporate companies. The movement is believed to help EMI in growing its revenue in the continuous competitive digital market.
Should this be true, then Coldplay's upcoming album which is tentatively titled 'Prospekt' will be released under corporate branding. The band were previously rumored to be leaving the label because they didn't see the need of a label to release their new album. Rep from EMI has denied this saying that their terms are quite well.
Meanwhile, Minogue's 'X' which has been released in U.K. will soon hit the States market through Capitol Records, the child label of EMI. The album is slated to be released on February 12.
The company had just announced that they will dismiss one third of its employees to save 200 million pounds. The cut will focus mainly on the recorded artist division.