Music 2.0, a blog focussed on digital music has a long analysis here that pulls no punches it where it thinks the labels have gone wrong. Worth a read.
One extract from the piece
“A Mayfair hideaway reserved for record label EMI’s top brass has been deemed surplus to requirements by the company’s new owner, city financier Guy Hands and his Terra Firma private equity vehicle. The house has been sold for £5.6m, marking the end of an era of excess at Britain’s biggest music company. Gone too are the £200,000 a year spent on fruit and flowers for EMI’s west London offices, and the £20,000 bill for candles”
The last bit prompted the new phrase – “Would the last person to leave please blow out the candle”