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Universal Music Shows Modest Quarterly Gains...

Thursday, July 24, 2008
by  presnikoff

Universal Music Group enjoyed modest revenue gains during the second quarter, thanks partly to continued digital growth.  During the recent period, the massive major bumped revenues to €1.01 billion ($1.58 billion), a 3 percent lift over the year-ago period. 

The figures emerged as part of a top-level, preliminary review by parent company Vivendi.  The report pointed to a 33 percent jump in digital asset sales, as well as gains from recent acquisitions BMG Music Publishing and Sanctuary. The acquisitions offer a nice diversification away from troubled recordings, though the company is still heavily tied to the CD.

Universal first received regulatory approval on its BMG Music Publishing buyout in late May, 2007, and the major announced its Sanctuary acquisition one month later.



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