Source Pravda.Ru

EMI to stay with IFPI but pay less

The major record company EMI decided to stay with IFPI after several months of deliberation. The record label will continue its participation in the group's operations, but will slash it funding for antipiracy policy.

The main reason for EMI’s concerns is the size of funding required to keep IFPI's operations at a level. EMI and the other three labels have allegedly contributed over $130 million per year to maintain the activity of IFPI, RIAA and other national trade groups.

EMI, following cost-conscious policy, managed to find an agreement with IFPI. As it’s extremely valuable for both sides to stick together and to cope with different challenges, IFPI has made some concessions and accepted the term of lower contribution from EMI.

The reduction of funding makes IFPI review the structure and operation of the organization and its relationship with the national groups.

The International Federation of the Phonographic Industry (IFPI) is the organization that represents the interests of the recording industry worldwide. It represents more than 1,450 record companies, large and small, in 75 different countries. Its stated policies are to fight music piracy, promote industry-friendly, copyright laws, and lobby for legal conditions believed to be in the interest of recording companies, including DRM.

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