EMI, one of the global music majors, is shutting down some of its offices in Asia. Offices in Thailand and Singapore have already been shuttered, while regional headquarters in Hong King are ready for the grim reaper, Music 2.0 reports.
All of this is part of the right-sizing moves EMI has been making; it had earlier announced plans to cut thousands of jobs worldwide. The big cuts in the region are going to come in June, Music 2.0 Blog asserts. It also offers up an in-depth analysis of how global music companies blew the big Asian opportunity: ringtones.
EMI’s move makes me wonder how long before the other three music labels — Warner, Universal and Sony-BMG — follow suit. EMI over the past few years has become the canary in the coal mine: It’s not the biggest of the music majors, and as a result, has been open to take more draconian measures to survive the music industry meltdown. Whether it was signing up for DRM-free music or ruthlessly cutting its payroll, EMI has been ahead of the curve, only to see its bigger brethren follow suit.