ThePhilips's Journal: EMI is in trouble

Funny article on Bloomberg: EMI Ousts Top Music Executives, Forecasts Lower Sales. Quote:

EMI Group Plc, the U.K. record company that signed the Beatles, ousted its two top music executives and forecast lower revenue after disappointing holiday sales.

Alain Levy will leave after five years as chief executive officer of the recorded music division. David Munns, the unit's vice chairman, will also step down.

Key quote:

EMI's revenue has declined as downloads failed to make up for business lost to piracy.

Not that we beleived the crap before. But what's interesting - is the timing. The anouncement comes as follow up to another article discussed on Slashdot recently.

P.S.

Downloads accounted for 8.5 percent of EMI's revenue in the fiscal first half, up from 5.4 percent in the previous year. That wasn't enough to make up for losses to piracy.

Notice they quote percents - not raw money numbers. Nearly 60% rise of sales, what is not that bad. $0.70 from each song sold isn't making up for $10+ they made on every CD before. Does that surprise anyone?