In what, with proper care and handling, could balloon into a full-on debate about the nature of ‘independent’ music, EMI handlers Terra Firma have, via a NY Post report, indicated that, along with other cost-cutting/profit-enhancing measures, the label plans to allocate between $100 million and $200 million for acquiring ‘smaller-scale indie labels.’
Additionaly, Terra Firma, the private equity firm that now owns EMI (TMT News), is looking to cut $223 million in expenses from the bedraggled EMI, including a $31 million slice from U.S. sales and distribution costs and a shift away from business in ‘non-strategic countries.’ The report also indicates that Terra Firma is banking on digital distribution and online marketing to pick up the money-making slack at a lower cost. Just maybe, perhaps, and with a little luck, the practice of having an A&R bro in a blazer drop bucks to schmooze the next hot young band may find itself gone the way of the dodo. Then again: There's unlimited supply.
