Sky News business editor MIchael Wilson

Nice to take a break from the gloom and doom and settle down to the new Coldplay album – ‘bright, warm,rich and strikingly memorable’ according to one critic. I bet it’s not as bright and warm as Guy Hands, who bought EMI for £3.2bn last summer is feeling.

Because Mr Hands is a titan of the private equity world and as far as most music industry inhabitants were concerned, a barbarian. A horrible moneyman preying on the tender talents of the artists.

And sure enough, as soon as Mr Hands entered EMI’s marble halls, war was declared on 25 years of rock-style excess. The lurid tales of waste were wonderful – a supposed £200,000 a year slush fund to buy sex and drugs for artists, bizarre £20,000 candle bills and a nice £5 million mansion in Mayfair for ‘company use’.

A third of the ‘artists’ who signed with EMI never made an album. The whole company had never moved with the times and was still depending for its future on CD sales which were already falling 10% in one year. The new era of digital downloading went unrecognised.

Exit in the artists’ revolt Sir Paul McCartney, Radiohead, with Coldplay, Robbie Williams and Kylie threatening to follow suit. Shock rocked the music industry.

Mr Hands’ radical approach was to take the money away from the A and R types who slouched around clubs looking on the offchance for a good band to sign, and instead giving the power to the people who have to work out how to sell music.

And, most importantly, ditch the junk and concentrate on the good, big acts. Today Coldplay have vindicated Guy Hands’ approach. ‘Viva la Vida or Death and All His Friends’ has become the best selling album pre-sale ever released in the history of iTunes.

Make no mistake, this album simply has to be a mega success, as do the other artists in the stable. Mr Hands borrowed a lot of money to buy EMI, and in this climate, can’t afford to be saddled with huge debt for long.

Even the top talent has to pay its way, these days.

Comments

[Michael Cornwall 12 Jun 2008 23:34:36]

The daffodil market is very important to Cornwall providing casual in which incidently there is a shortage of people. The daffs are sold via Linconshire to the continent a bunch of 10 sells for 15-16 p as it was 20 years ago robert would produce 2 1/2 million bunches , and at this time of the yesr lift bulbs which would sell for £400 a tonne for varieties like Golen Ducket,he would sell about 400 tonnes and plant about the same. His pleasure is developing new breeds 1 bulb is cut into segments and then grown to be divided again a new variety could sell for £10 a kilo £10000 a tonne. Barley has done well, and so has straw, although he keeps straw for bedding eo be ploughed under as fertiliser. Brocoli or cauliflower is a long season he is committed to tesco via a packhouse, If Tesco need 100 acres they want the farmer to groe 115 acres so they are covered. He would produce 8000 heads an acre 655 saleable he would get 28p a head but it would cost that to produce.Alot of farmers are pulling out which might mean more demand so he has been talked into committing for 1 more year,
Robert is scared by the speed of the inceases of costs. He cant demand more for his products especially now when everyone is demanding lower food prices. So he is being squeezed enormously and has few places to go. There is not a food policy but I have heard it said there is a food shortage or there will be,I have not got an answer.Robert feels like I do we are lacking direction he feels Mr Brown has his ears covered and is not listening. Like a lot of people the Farmers do not have a strong voice, I am pleased to let you know. I will keep loking for the positive story, but that story really I see everyday I seem to talk to alot of people about how they are doing,Their strength and perserverence is is really the positive story.I have many more stories of how it really is to tell you so \i will .The tourist trade and of corse the surfers,I am hoing they are not aware of the difficulties facing the country.

[Michael Cornwall 12 Jun 2008 19:49:46]

I think Icrashed the last comment. To continue with my chat with Robert Body.
On the good side he did ok with his cattle he buys cannily from Truro Market at 9 months and sells at 2 1/2 years.
General farming is scary. may last year tractor diesel was 36p a litre now it is 70p. His heating for sterilising bulb and associated was £14k last year this year it was £25k Transport 07 £18k 08 £25
current to next £30k. Fertilizer last utear was £159- £170 a tonne this year £380 spend last year £20k this expected £45k Robert believes that fertilizer increase is due to purchases in China India and Iran as these counties become more wealthy. Systemic weedkiller Roundup has doubled in price.this type of weedkiller is sprayed onto the leaves of weeds and passes through the stem and kills the roots. essential for flower production.the chinese are buying a lot but it is also being used for genetically modified crops,which have a gene in them which mekes them immune to roundup. There is a connection between the makers of round up and genetic farming. I have run out of space so will conclude later

[Khalid 12 Jun 2008 14:17:50]

Sir
As [Vicky D] know fulls well, in order to accumulate you have a speculate to a degree or two, otherwise how will we all know [This Beat Is Mine]?
The bands listed herein do by far and large bring many a moment for all to relax and enjoy life where ever we are, many making it past the stop button, whilst others no doubt remain standing within their cd sleeves.
Thus far as to whether such delights be labelled barbaric, or cold, listeners will always listen and part with what is perceived entertainment value orientated donations.
So, if EMI hasnt moved on with the times, is it any wonder I cannot find the download link for a much publicised missed opportunity?

[Michael Cornwall 12 Jun 2008 13:07:16]

Good article,to cheer myself and pete from Brighton up,and I am sure Kalhid knows the words ,I think a quick rendition of the scientist with you, David,the gent with the red braces, and Emma an octave higher