Music All Around

Saturday, November 1, 2008

Trouble at eMusic?

Coming not too long after CEO David Pakman left to join Venrock, and as the search continues, eMusic has cut 10% of its workforce. Danny Stein, who chairs eMusic has stated that their(eMusic) retail partners that bundle the service with other products are reporting sales.

Despite this it is said that online traffic remains strong and that they expect it to gain revenue by 40% for this year.

Emusic has had its share of issues over the past year....they have had fall-outs with some indie labels, the subscription issue, and the lack of major labels on board.

There is reportedly a possibility that more layoffs are expected around Christmastime.

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