Despite our best efforts to keep our catalog intact, we’ve suffered some temporary label losses. The eMusic business model has not been immune to pressures from the competitive world of free streaming and music videos. The recent label losses are evidence of the difficulties we face in supporting preferred Member pricing, growing membership in a competitive market, and maintaining a robust music catalog.
Though these losses are painful to us and our loyal members, we’re constantly exploring options to provide added value, expand our catalog, restore desired labels and grow our membership. These efforts have spanned technology improvements, new plans and offers for new customers, and a steep reduction in organizational costs. To name a few:
- We’ve completely replaced a failing ecommerce platform.
- We’ve greatly reduced overhead and operating expenses.
- We’ve introduced free cloud services to help Members manage their collections and bring more value overall to the service.
- We’ve introduced a flexible Open Access plan that enables Members to buy as much or as little music as they want from month to month.
- We’ve also pursued new investment opportunities to help us grow in membership.
Despite our progress since relaunching eMusic, we know there’s more that needs to be done. We believe that what we and the industry needs right now is a much bigger innovation – one that will allow us to carry through on our mission to deliver a music service for collectors that value music ownership and supporting their favorite artists.
We have a plan and a path forward (and its not streaming). We have the backing for a new direction that will enable us to add artists and restore labels to the store, and introduce new music technologies that don’t exist anywhere today. In fact, in a matter of weeks, we’ll be ready to share details about a new eMusic marketplace we’re developing that will help us to bring back lost content, expand our catalog, and enable our fans to interact with and support their favorite artists in a whole new way. Plus, we will continue to enhance eMusic’s core functionality, making it your go-to player, collection manager, and retail store.
We look forward to sharing more information soon with our supportive and loyal customers.