Saturday, November 06, 2010

Follow the Money, Impending Firesale Edition

Always on the right path, Pliable has been following the story of EMI's descent.  With the latest successful claims by creditor Citigroup against EMI, what can we expect will happen to the back catalogue in classical music? I suspect that there is a real opportunity to be had here in picking up that catalogue at fire sale prices and immediately turning it into digital goods.  Sure, the amortization may be long-term — and in terms longer than any major financial concern is now willing to consider — but these goods are reliably durable audibles. (If the present UK coalition government really had their capitalist chops about them, they would find some way to claim these as assets of national interest, make the modest investment to create the platforms required to sell downloads, and then reinvest the income in contemporary music making. Unfortunately, I suspect that there are interests in the present government who actively hold any engagement by the state in culture in such low regard that they would just as soon lose money and let assets like these disappear into the portfolio of a creditor with no idea what the assets are, let alone what they might be worth, as actually exploit the potential of the assets.)

No comments: