There is news coming out of Asia that EMI is closing down some of its Asia operations - will this have a flow-on effect to their NZ operations? Could we see EMI NZ being run from their London or Australian offices?
From Onetwomusic News ..
We recieved rumours from someone working inside EMI that after the long weekend in Hong Kong, EMI will announce that they are closing all operations in Asia. This includes EMI regional office in Hong Kong. We have not heard anything official from EMI yet.
There has been a lot of speculation of how the acquisition by Terra Firma will affect EMI in Asia, where they closed down their Thai Office and laid off Key management staff in Hong Kong’s regional office late last year.
Our sources tell us that EMI will be inking deals with distribution partners in Asia, but no word on whom yet.
EMI has been struggling in the region, with under-performing international albums and successful Asian artists limiting to Greater China only.
Once we recieve more information or a confirmation, we will post it here.
24/03/08 UPDATE: From what we heard after our post, EMI will not be shutting down immediately after Easter, but will start rolling out plans to start a licensing/distribution network for EMI in Asia. Eventually their presence in Asia (ex-Japan) will be in the form of licensing.
ADDED more at Music 2.0. "Already, EMI has effectively closed offices in Thailand and Singapore whilst those in Japan, India, Australia and China will remain to some level of direct EMI jurisdiction especially on the digital front. It is believed that EMI is currently in talks to license a partner to manage their catalogue in Asia, and rumours have Warner Music as the front runner."