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# WMG Reports Higher Profits On Lower Sales
- URL: https://www.hypebot.com/wmg-reports-hig/
- Published: 2008-11-25T10:03:58.000Z
- Updated: 2008-11-25T10:03:58.000Z
- Description: Despite declining CD sales and an increasingly dismal economy, WMG managed to meet analysts’ expectations and hold its own. 2008 fiscal year revenue grew 3% to $3,491M, and declined 2%. Continue reading [https://www.hypebot.com/hypebot/2008/11/wmg-reports-hig.html]
- Author: Bruce Houghton
- Tags: Major Labels, #wp, #wp-post, #Import 2026-01-21 11:06

Despite declining CD sales and an increasingly dismal economy, WMG managed to meet analysts’ expectations and hold its own.

- **[![Wmg](https://spcdn.shortpixel.ai/spio/ret_img,q_cdnize/www.hypebot.com/hypebot/images/2008/11/25/wmg.jpg "Wmg")](https://www.hypebot.com/.shared/image.html?/photos/uncategorized/2008/11/25/wmg.jpg)**  
**2008 fiscal year revenue** grew 3% to $3,491M, and declined 2% on a constant-currency basis. 34 revenue totaled $854M a decrease of  
1% from the prior-year quarter or 5% on a constant-currency basis.
- **2008 digital revenue** rose 39% to $639M or 18% of total. Q4 digital revenue was $167M or 20% of total revenue up from $166M in the third quarter of fiscal ’08 and up 28% from the prior-year quarter. Full-year 2008 digital revenue rose 39% to $639M or 18% of total revenue.
- **Operating income from continuing operations declined 20% to $66 million**…

> in the quarter compared to $83 million in the prior-year  
> quarter. Prior quarters had benefited from a $17M legal settlement and  
> been dragged down by whopping $9M in expenses during the failed  
> aquisition of EMI.

- **Operating income** before depreciation and amortization from continuing operations fell 8%. **([more](http://investors.wmg.com/phoenix.zhtml?c=182480&p=irol-newsArticle&ID=1229864&highlight=&ref=hypebot.com))**

WMG’s saw revenue fall 3.7% with weakness in the U.S. offset by  
sales in Japan, France and Italy. Major sellers included Metallica, Kid  
Rock and Mariya Takeuchi.