Sony has announced its acquisition of EMI Music Publishing, which will add more than two million songs from world-famous artists such as Alicia Keys, Kanye West and Queen to an already gigantic publishing catalogue and secure Sony’s position as the biggest music publisher.
According to Sony, there has been a resurgence in the music business, thanks to the growth of subscription streaming which will help the company put a renewed focus on creating a great portfolio of intellectual property.
One major music company taking over another is barely something new in music business. Since the start of the century, the music industry has seen a steady growth of only a handful of giants that have swallowed up the smaller players.
Sony’s long-term aim has been to stabilize income coming from song rights and recordings.
Threatened by piracy and internet downloading during the last two decades, the music business is now bouncing back and Sony’s recent major takeover is a promise of a good future for the industry.
According to a statement analyst, David Dai gave to Blumberg, the recent acquisition has exceeded everyone’s expectations.
Sony has recently sold a half of its Spotify shares for a price of $750 million, but the recent 2 billion worth acquisition of EMI is not a small investment by any means, yet it reflects Sony’s growing optimism for the future of the music industry.
Because Sony was already in possession of 2 million copyrights, which includes the world-famous Beatles catalog, it’s expected that the company’s EMI acquisition is going to boost Sony’s already growing publishing business.