Universal Music Group Has Good Semester Despite Turmoil for GiantsJuly 28, 2006
According to the report issued last week by UMG’s parent company Vivendi Universal, the year has been kind to sales. Figures show an increasing of 5,5% over the same period last year, totalling 2.2 € billion. Digital music sales account for 10,1% of all UMG’s sales, a number that has been growing steadily over the last few quarters.
Recently Sony/ BMG had reported losses of about 14,4% and other competitors are expected to report a decline in revenue for the first semester of 2005. However Sony/BMG’s situation has been worsened by the annulment of the joint venture by the European Court of First Instance recently, leaving company and analysts in shock. Plans by EMI to acquire it’s rival Warner Music were subsequently withdrawn reportedly “until the legislative climate in
Europe is favourable”.