UMG Sees Slight Revenue Drop

Vivendi released its Q2 and first half financials and its Universal Music Group division did not do well. Digital sales grew 29% first half of 2009,  but revenue was down 1.7% in the in the first six months with a 2.8% decrease in the second quarter compared to the same quarter last year. The company attributed the decline to restructuring, copyright settlements and a decrease in value of some UMG's investments. The label gorups best selling albums came from U2, Eminem and Black Eyed Peas.

Overall, Vivendi saw its Q2 profit grow 8% to $1.17 billion with the Activision game division a real contributor.