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April 14, 2008

EMI's 2009 Financial Plan: Coldplay's Success Is Life Or Death

Coldplay_3 Looking at the possibility of starting fiscal year 2009 with a bang, EMI will release Coldplay's  fourth album, "Viva La Vida," in the third week of June, toward the end of the first quarter of the now private Brit conglom. Company is not likely to release year-end financials, which would reveal the costs of its massive restructuring.
Hits have been few and far between for EMI in Guy Hands' rookie season and the company's current representatives in the top 50 are a Trace Adkins hits compilation  and the B-52's first album in 16 years. The pressure will be enormous for  "Viva La Vida or Death and All His Friends" - that's the full title - to perform at a level equal or better than its predecessor, "X&Y," which has sold 10 million copies worldwide since its release in 2005. (The RIAA, which certifies shipments, has "X&Y" at 3 million copies in the U.S.)
"X&Y" sold 737,294 copies in its first week of release back in 2005 and Coldplay-mania was so strong then that their first two albums, "A Rush of Blood to the Head"  and "Parachutes" rose to Nos. 1 and 2 on the catalog albums chart. "XX&Y" debuted at No. 1 in more than 20 countries.
During the Eric Nicoli years, EMI often blamed stock slumps on the lack of or delays in new Coldplay and/or Radiohead material, which meant the company had  to tout  Beach Boys, Dean Martin and Beatles packages along with front line  releases for signs of good news.
With EMI streamlined, the jury is still out as to whether they will be able to break new artists on the scale of Coldplay or even Norah Jones. But its reduction in size, however, may mean that a single record from a single band may be able to jumpstart a company.   
The album's 10 tracks are:

"Life in Technicolor"
"Cemeteries of London"
"Lost!"
"42"
"Lovers in Japan/Reign of Love"
"Yes"
"Viva La Vida"
"Violet Hill"
"Strawberry Swing"
"Death and All His Friends"

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The Set List is written and compiled by Variety associate editor Phil Gallo. Gallo, based in Los Angeles, writes about the music business for Daily Variety and reviews concerts, television shows and theater.

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