When they purchased 3 Abbey Road in 1931, I doubt the Gramophone Company, which later joined with Columbia Gramophone Company to form EMI, had any idea the kind of landmark that it would ultimately become. The studio, most famously immortalized on the Beatle's Abbey Road cover, has been put up for sale by EMI in a desperate attempt to raise funds for the ailing record label, although it has not been reported whether EMI will sell the Abbey Road brand name as well. The Abbey Road studios are probably worth more than the current United States debt, but the brand name is invaluable and it seems doubtful that anyone would purchase one without the other. When they purchased 3 Abbey Road in 1931, I doubt the Gramophone Company, which later joined with Columbia Gramophone Company to form EMI, had any idea the kind of landmark that it would ultimately become. The studio, most famously immortalized on the Beatle’s Abbey Road cover, has been put up for sale by EMI in a desperate attempt to raise funds for the ailing record label, although it has not been reported whether EMI will sell the Abbey Road brand name as well. The Abbey Road studios are probably worth more than the current United States debt, but the brand name is invaluable and it seems doubtful that anyone would purchase one without the other.
One of the only recording studios able to accommodate a full orchestra, the venue has most recently recorded movie soundtracks for Harry Potter and Lord of the Rings. Regardless, it has fallen victim to competition of new, cheaper studios over the years, and asking to record at Abbey Road has become a pricey and ultimately impractical request.
Terra Firma, who owns EMI, is attempting to refinance nearly 3.3 million pounds worth of loans and is hoping that a sale of the property will help raise the revenue to do so. The sale of Abbey Road won’t be the first in recent deals by EMI. Last year, it shut down Olympic Studios as well, explaining that it was no longer yielding a profit.
The fate of the studio will be left in the hands of whatever billionaire is able to purchase it. However, recording artists are already banding together to corroborate a “Save Abbey Road” sentiment. Naturally, people have looked to Paul McCartney, to save the studio, although it does not seem he is very interested. McCartney has been quoted saying “it would be lovely if somebody could get a thing together to save it,” which doesn’t sound like the words of someone considering such a feat.
Richard Porter, who actually brought me on an awesome Beatles tour during my stay in London, is concerned for his business. Porter, whose tour concludes at Abbey Road, also owns a Beatles coffee shop near the studio selling Beatles and Abbey Road memorabilia. Though he is concerned that the studio could be turned into apartment buildings, Porter hopes that Beatles fans will continue to flock to the famous zebra stripped crossing, piss off motorists by attempting to reenact the Abbey Road cover, and keep his business intact.
