New #’s From EMI Aren’t Pretty

Despite aggressive reorganization efforts at EMI, it appears that new owners Terra Firma have their work cut out for them. The hoeful spots were publishing and digital revenues which got a 26% boost from EMI’s decision to drop DRM.

• EMI Group total revenue declined by 5.1%
• EMI Music revenue at constant currency declined by 13.4%
• Digital revenues increased by 26.0%, while physical revenues declined by 19.8%.
• EMI Music Publishing revenue increased by 11.9%. This was partly as a result of litigation settlements, although mechanical revenues are holding up well despite declines in recorded music markets. (more)