Revenues at Universal Music Group notched upward during the second quarter and first half.
According to financial information revealed Thursday by parent company Vivendi Universal, revenues during the most recent quarter approached €1.08 billion ($1.37 billion), an increase of 2.2 percent over the comparable period last year, and 0.7 percent at constant currencies. First half totals topped €2.20 billion ($2.79 billion), an increase of 5.5 percent, and 1.7 percent at constant currencies. Downloads buoyed both outcomes, and digital sales now account for 10.1 percent of overall label revenues.
Earnings were not revealed during the financial review, though French companies often issue separate revenue and profit reports. The other piece of the puzzle will be revealed in early September, offering more insight into the underlying health of the label. A look back offers some perspective. For 2005, earnings moved to €480 million ($609.4 million), up 18.8 percent compared to 2004 on both a comparable basis and at constant currencies. But earnings during 2003 topped €556 million ($705.7 million), itself a 23 percent dip from 2001 figures of €719 million ($912.6 million). Meanwhile, the label continued to maintain a massive market share, though its standing slid slightly to 31.7 percent.