NEW YORK (CelebrityAccess MediaWire) — Vivendi has announced that music giant UMG saw its revenue droop by 3.1% in Q4, citing declining physical albums sales as the driving force in the decline.
In real numbers, this equates to a drop from $2.38 billion to $2.45 billion from the same quarter in the previous year.
Overall, the label group's revenue dropped 1.7% last year
The bright spot was that digital sales were up by 55%. Some of the biggest movers for the label group included releases by Amy Winehouse and Rihanna and The Eagles. – CelebrityAccess Staff Writers