EMI / Virgin Records
The storied British major — home to Virgin Records — that sued 30 Seconds to Mars for $30 million when the band tried to invoke California's seven-year rule to escape a deal under which, the band said, it had sold millions of records yet remained millions in debt. EMI's recorded-music business was absorbed by Universal in 2012.
EMI was one of the original major record companies, with Virgin Records among its labels. After financial trouble, its recorded-music division was acquired by Universal Music Group in 2012, though the EMI and Virgin names live on as imprints.
Its case study here is 30 Seconds to Mars: when the band tried to walk away under California's seven-year contract rule, EMI/Virgin sued for $30 million — even as the band said it had sold millions of records without ever being paid, a textbook illustration of how recoupment math works against artists.
Primary sources
- [1]EMI — corporate history — Wikipedia