Major Labels

EMI & Universal Tell Stock Market There’s A Good Year Ahead

Emi_4EMI offered the stock market a first quarter financial preview covering the full year ahead. Combined revenues from music and publishing are expected to increase 4% for the fiscal year. Revenues at EMI Music to inch to 2% aided by digital growth which they predict will be 150% over the year to $196 million or 5.5% of overall EMI Music revenues. The EMI Group overall projected a 12% rise in yearly profits including cost savings of $53.5 million. Official results will be released May 23rd.

Universal_2UMG also released preliminary revenue reports for the first quarter as part of a preview by parent Vivendi Universal.  Vivendi revealed that overall UMG revenues hit 1.125 billion euros ($1.139 billion) for the quarter, a jump of 8.25 percent over the year-ago quarter. They credit digital sales, strength in the Japan, and publishing revenues for the rise.

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