Parent corporation Vivendi just reported a 22% earning jump last quarter, but its Universal music division did not do as well.
Universal Music Group’s revenues declined 8.7% versus the same period last year and 4.2% on a constant currency basis. Strong sales in the UK were offset by declines in the US, Japan and France. Digital sales were up 54% versus last year representing 15.7% of total revenues versus 9.9% last year, with strong growth across both the online and mobile sectors.
Best sellers included releases from Fall Out Boy, Nelly Furtado and Akon.
