Music Exec: “Pirates Murdered EMI”

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EMI, one of the largest record labels in the world is up for sale. US bank Citigroup took over the troubled label, and hopes to find someone to take it over in the near future. Of course, pirates are to blame for it all.

Here’s some insight from former Creation Records and Poptones owner Alan McGee taken from an interview with NME.

f“The trouble is, now everyone has woken up to the reality, which is that illegal downloading is murdering the music business. Will EMI find a buyer? Bits of it will. Everyone wants a piece of its publishing catalogue, which is worth a lot – but these days no fucker wants to buy a record company.”

“EMI’s problems should be a wake-up call. How did they get into this mess? It all comes back to the impact of illegal downloading. We have to change the legislation in this country and come down much harder on piracy. Otherwise guys in little bands starting out now are never going to be the next Rolling Stones. When you download an album illegally, it’s not the record company guys that get fucked – those people are still on massive salaries – it’s 19-year-old kids, it’s guys in bands making £100 a gig.”

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