EMI warns lazy artists will be dumped

Last Modified: 02 Nov 2007
Source: ITN

EMI is advising artists to shape up or ship out, an internal memo has revealed.

The record company behind Kylie Minogue and Robbie Williams has warned that stars who don't work hard enough will face the axe.

Bosses at the music industry giant also threatened to withdraw performers' lucrative advances if record sales are disappointing.

Guy Hands, boss of Terra Firma, the private equity firm which bought EMI in August, said the company would in the future be "more selective in whom we choose to work with".

He wrote: "While many spend huge amounts of time working with their label to promote, perfect and endorse their music, some unfortunately simply focus on negotiating for the maximum advance...advances which are often never repaid."

Williams was paid a reported £80 million to sign to the label in 2002. However his latest album received mixed reviews and was overtaken in the sales charts by his former band, Take That.

EMI was bought by Terra Firma in a deal which valued the company at £3.2 million in August, just before the global credit crunch.

Analysts fear the company may now be under pressure to cut budgets.

EMI sales fell by 10 per cent last year.

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