The Hong Kong music industry continues to decline, an unofficial estimate reveals that the sales in music has declined by 20%. Due to this decline, rumors are circulating that the company Universal Music cannot withstand the pressure from low sales and low profits, therefore, Universal will now combine with Go East Entertainment to form one united company. Under Go East are also company’s Cineoply Records and What’s Music. If these rumors are true, it will be 4 companies combined into 1.
To further prove that Universal Music cannot withstand the low sales and low profits it has been said that so far this year, Jacky Cheung has not produced an album therefore, no sales. Hacken Lee has only released an EP. Eason Chan has done most of the contributing as the sales of his "Life Continues EP" is holding the record for highest sales this year. While Kelly Chen’s album has sold pretty well also.
Universal Music’s executives have been asked regarding these rumors and responded, "We cannot talk about this matter at this time since it is official business. As of right now, nothing has changed but who knows what will happen in the future?"