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2nd Q Results: UMG Does Better Than Most

LONDON (Hypebot) – 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.