EMI Taking First Steps to Quit RIAA, IFPA

Spotted on: Ars Technica

Although still unconfirmed, rumor has it that EMI is seriously considering pulling their funding from the RIAA.? According to a recent Variety article, EMI has taken early steps to exit from the IFPI, the international version of the RIAA.? Part of the move is a demand by EMI that the RIAA and IFPA produce a proposal on restructuring by March 31.

Citing the massive cost of participation in these trade organizations, it seems EMI is very unhappy with the results being produced by the RIAA and IFPI.? The public relations nightmares these organizations have created has been a major contributor the devaluation of music.? If file sharing wasn’t labelled an almost terrorist act, it could have a huge impact on the perceived value of music.

More as this develops….