The Rock Dose

The Dark Side Of The…Record Industry Posted: 21 Apr 2009 06:14 AM PDT Braveword.com is reporting that EMI may be facing legal action from one of their most profitable assets. Pink Floyd, I’m not sure which members are actually representing the band, are taking legal action claiming that EMI is “Miscalculating” their royalty payments. The unprecedented legal claim is a glimpse at the fraught relationship between EMI, under the ownership of Guy Hands’s Terra Firma, and some of the label’s leading acts. The new owner’s arrival in 2007 was blamed for the departure of acts such as Radiohead and Paul McCartney. The report also goes on to say that the legal action may have come about due to royalty payment negotiations that have been ongoing for the last couple of years since Hand’s acquisition of the company. As far as my opinion on this matter goes, the record company owes their bands royalties from record sales. Regardless of cutting costs, the bands that already get royalty checks are due their money. I feel that they’ll have to find other ways to cut costs instead of ripping off the artists anymore than they already are. Image: Amazon.com Tags: emi, Pink Floyd Share This

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