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Coldplay Bullish for EMI

Coldplay’s new album X&Y is expected to sell over 600,000 copies in its first week of release in the U.S. alone, according to projections made by financial firm Lehman Brothers. Due to the rampant popularity of Coldplay’s particular brand of quietcore rock, their record company’s stock has risen appreciably. Newratings.com reports that shares of EMI — parent of Capitol Records — have gone up a great deal because of Coldplay’s projected success. Lehman Brothers expects that Coldplay will end up selling at least seven million copies of their new record, good news for EMI, which experienced losses earlier in 2005, partially due to a pushed-back release date for X&Y. Coldplay frontman Chris Martin bemoaned his servitude to shareholders during some promotional appearances in New York last month. Click here for more coverage. Check out the video links to the right of this text to see Coldplay’s new single, “Speed of Sound.”

Tags: Music News