EMI has long been the reigning record label in the world of British music. It is now watching helplessly as some of its biggest names leave the nest one by one.
Paul McCartney was the latest star to leave the British label a few weeks ago. He followed Radiohead and Pink Floyd who announced they were heading off to greener pastures. Now EMI had to watch Queen walk out the door.
The group had its biggest successes in the 1970s and early 80s. Queen was forced to stop when its lead singer and frontman Freddie Mercury died from AIDS in 1991. The last studio album with him singing, Made in Heaven, appeared in 1995 four years after his death.
Queen has already announced its music catalogue is heading to Universal, one of EMI’s biggest rivals, when the group’s contract with EMI expires. EMI is experiencing some financial difficulties and simply could not compete with Universal’s offer. EMI now prefers to invest in new talent.