2nd Q Results: UMG Does Better Than Most

In the first half of the year, Universal  Music  Group’s revenues  of  € 2,044  million  grew  4.9%  at  constant  currency which meant a 2.4%  decline  in  actual currency compared to the same period last year. This reflects a 33% increase in digital  sales, growth in music publishing and merchandising following the 2007 acquisitions of BMG  Music Publishing and of Sanctuary all of which offset lower physical sales.

Taken separately, second quarter
UMG’s revenues of €1,011 million grew 3% at constant currency or( a 5.3% decline in actual currency) compared to the  same period last year. Best sellers included the debut release from Duffy, new albums from
Mariah Carey, Jack Johnson and Lil’ Wayne and very strong carryover
sales of Amy Winehouse’s 2006 release Back to Black. (pdf of results)