According to a report in today's New York Post, Universal Music Group has caused a hold-up in the release of the IFPI (International Federation of the Phonographic Industry)'s latest report on music industry market shares. The IFPI had been slated to unveil the report, "Investing In Music," at a press event on Tuesday. However, the event was canceled allegedly because UMG wanted the report to downplay the role of the major record labels in launching new artists. Universal also reportedly wanted the report to include new new wording on growing competition in the field of digital music distribution.
Sources told the Post that Universal wouldnít sign off on the report unless the changes were made, while the other major labels refused to give it their OK if the IFPI met UMG's demands. All four major labels must agree on the IFPI report's wording before it can be released.
"This report suddenly doesnít make sense," one music source told the paper. "Itís really unfair." UMG sources denied trying to delay the report, telling the Post they wanted it to better reflect the realities of today's music marketplace.
Frustrated by the situation, Frances Moore of the IFPI told the labels that if they couldn't agree, the organization did not want to be caught in the middle and simply would delay the report until this Fall.