EMI to continue supporting IFPI
EMI was the first music label to openly adopt the DRM free MP3 file format for selling digital music online.
The company has now said that they would continue to remain a member of international trade body IFPI provided they provide them with lesser funds to fight piracy.
EMI had earlier threatened to leave the group which also has other music labels as partners.
Market analysts believe that the shortage of funds to IFPI could hamper its fight against the internet piracy.
Jean-Francois Cecillon, president of EMI Music International Labels spoke about the new developments: “We undertook to work with our colleagues in the other major labels and with John Kennedy on a cost saving plan for the IFPI. Together we have been able to find solutions which we believe are achievable whilst maintaining what the IFPI does best in representing our industry.”
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