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EMI hates new music.
In a profile of Guy Hands, the very rich man running EMI’s music division, the New York Times offered this doomsday statistic for the company: “An analysis by McKinsey and KPMG found that EMI had lost £750 million ($1.5 billion) from selling new music over the last five years.”
About ten minutes after reading this, I came across this quote from Corey Ondrejka, EMI’s new VP of Digital: “I neither buy nor hear much new music. Since 2000 I’ve only purchased five albums — three by Rush.”
You don’t need Scooby Doo to solve this mystery.
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