EMI's market share in the United States has fallen below 9 per cent, its lowest for at least half a decade, placing intense financial pressure on the forthcoming release of Coldplay's new album.

The British company, which was acquired by Guy Hands's Terra Firma private equity firm a year ago, has accounted for 8.8 per cent of sales in the world's biggest music market so far this year. It has only one album in the American Top 40 this week.

Critical to any recovery will be Coldplay's Viva La Vida or Death and All His Friends, which is to be released in Britain on June 12 and in America five days later. The British band is EMI's bestselling act in the US and globally. X&Y, its previous album, sold three million copies in the US and ten million worldwide.

The initial performance of Violet Hill, the first single from the Coldplay album, is giving Terra Firma some encouragement. In an initial giveaway, two million copies were downloaded, but last week, the single still made its debut at No15 in the US charts and No8 in Britain when people were asked to pay.

EMI is striving to meet internal targets for profits in its recorded music operation - estimated at £150 million for Terra Firma's first year of ownership. Citigroup, its lender, is unable to enforce more onerous terms if they are missed, because the loan was struck on “covenant-lite” terms just before the credit markets closed. EMI simply has to meet its interest payments, which a spokesman said were “not proving a problem”.

Weak sales of recorded music in the US are echoed in EMI's British heartland. Its share of artist albums eased from 13.6 per cent in 2007 to 12.8 per cent in its fiscal year to March 2008. Apart from Coldplay, EMI is pinning its hopes on releases by Al Green, the soul star, and by Katy Perry, who has been championed by Madonna.

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