At ‘classical:next’ in Vienna, which lasted from Wednesday to Saturday, one of the main discussion themes among professionals was the expected bankruptcy of Codaex and the possible consequences for the market. It locks however like the Dutch label Challenge will continue with the labels of Codaex within the structure New Arts International they already created with Codaex last year. The reason for Codaex’ difficult financial situation is the positive reaction from customers to the new Download offers from labels and large websites like ‘Classical online’ or ‘e-classical and, thus, the shrinking market of the physical CD. Klaus Heymann, CEO of market leader Naxos and one of the really big worldwide distributors, told Pizzicato in Vienna that he is expecting more smaller companies to close. If Challenge Classics continues NAI alone and creates new logistic services in he Netherlands, the success will only be possible if the labels actually under contract with Codaex will continue their collaboration with NAI.
Recently, Belgian distributor AMG stopped its activity (read more).
