[Manic Monday] Why The Universal Music Purchase Of EMI May Turn Out To Be A Good Thing
The music industry was abuzz late last week regarding the approval from the European Commission and the US’s Federal Trade Commssion, regarding the planned purchase of EMI’s recording arm by the already-dominant Universal Music Group International. Many groups, including indie bands and indie labels, have stated opposition to the deal from the start, saying that Universal will have too much power in the market, and of course articles here and there have claimed that this is the day that the music died.
Now of course, the music won’t die, but it may well as be that the music industry will suffer somewhat when one major label is more dominant over the other players, virtually all over the world. Naturally, a dominant company in any industry will try to retain its dominance and also attempt to negotiate favorable business terms with any music service (now, the digital music services) for them and probably not think of the general well-being of the industry in general.
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