London - Major record label EMI, whose new private equity owners had threatened to leave the International Federation of the Phonographic Industry (IFPI) trade group over costs associated with membership and the group's anti-piracy efforts, has decided to stick with the organization after a cost-saving plan was agreed upon.

"We undertook to work with our colleagues in the other major labels and with (IFPI chairman and CEO) John Kennedy on a cost saving plan for the IFPI and together we have been able to find solutions which we believe are achievable whilst maintaining what the IFPI does best in representing our industry," said Jean-Francois Cecillon, president, EMI Music International Labels.

"I am glad to say that on the basis of those discussions we have been able to confirm our continued membership of the IFPI and we look forward to working with the IFPI on the crucial issues that our industry faces."

Neither EMI nor the IFPI provided details on how much EMI's or the other labels' contributions to IFPI will be reduced.

Related Links:
http://www.ifpi.org/content/section_news/20080310b.html

http://snipurl.com/21j7m (Ars Technica)