Alain Levy EMI (EMI) Music Chairman and Chief Executive told the London Business School on Friday that the CD is dead. He added that CDs can no longer sell without "Value-added" material.
"You're not going to offer your mother-in-law iTunes downloads for Christmas," he said. "But we have to be much more innovative in the way we sell physical content."
When you think of it, it's surprising that the industry has taken this long to address the issue; they're years behind offering what consumers are demanding. Still, it's good to see they're starting to see this, even if they continue to stupidly sue everybody in sight.
Levy added that starting next year none of EMI's CDs will be offered without additional content with it.
They are also in talks with Internet giant Google (GOOG) for an advertising-revenue sharing agreement in conjunction with their newly purchased YouTube property. Their major rivals Warner Music Group Corp. (WMG), Sony BMG - a joint venture between Sony Corp. (SNE) and Bertelsmann AG - and Universal Media have already taken this step.
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