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EMI MUSIC ADOPTS NEW POLICY TO BENEFIT LEGENDARY RECORDING ARTISTS

 EMI MUSIC ADOPTS NEW POLICY TO BENEFIT LEGENDARY RECORDING ARTISTS
 NEW YORK, March 16 /PRNewswire/ -- Jim Fifield, president and chief executive officer of EMI Music, today announced a major new policy to improve royalty treatment for EMI Music artists from the 1940s, 50s and 60s.
 With effect from April 1992, the EMI Music labels in the United States, including Joe Smith's Capitol-EMI Music Group and Charles Koppelman's EMI Records Group North America, will increase the amount of royalties actually received by those artists who have not recorded for the labels in the last 20 years. The policy will allow artists who recorded in the United States before 1970 for labels now within the EMI Music family (including those on the Imperial, Aladdin, Liberty, Pacific Jazz, Sue and United Artists labels, as well as the Capitol labels, including Blue Note) and who have not recorded for them since 1970, to receive a royalty of 10 percent on retail list price for full price domestic and foreign sales, with reduced-rate royalties applying to other sales. In addition to the rate increase, in cases where still- existing artists royalty debit balances have prevented the payment of any royalties to such artists, these debit balances will be forgiven, so that future royalties will be paid to the artists without further recoupment.
 Commenting on this move, Fifield said, "New technologies in the music business continually introduce to present-day consumers the great recording talents of the past. Our strong re-issues program, which includes the Capitol Collectors Series and the EMI Legends of Rock'n'Roll Series, has given us the opportunity to bring many of these great artists to a new audience. It is appropriate that the music industry continue to recognize these legends and ensure that they derive fair economic benefit from these re-issues. I, therefore, am happy to commit EMI Music to such a philosophy."
 Full details of the new arrangements are being sent to the artists who gain by this policy.
 -0- 3/16/92
 /CONTACT: Yon Elvira of Susan Blond, Inc., 212-333-7728, for EMI Music/ CO: EMI Music ST: New York IN: ENT SU:


GK-TS -- NY036X -- 8319 03/16/92 12:15 EST
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Publication:PR Newswire
Date:Mar 16, 1992
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