NEW YORK (CelebrityAccess MediaWire) — Vivendi Universal and Sony each released quarterly revenue reports. Vivendi released numbers for the first half of 2007 and the second quarter while Sony released its fiscal report for the first quarter of the year.
Vivendi Universal saw revenues grow by 6.4 percent, from 9,610 million Euros (or roughly $13.2 million) to 10,223 million Euros ($14,055 million). In the second quarter, revenue grew 7.4 percent from 4,844 million Euros ($6.66 million) to 5,203 million Euros ($7.15 million).
In a continuing trend Universal Music Group saw its first half revenue fall 4.9 percent to 2,095 million Euros or $2.88 million. Sales were in line with the first half of 2006, with European and U.K. market performances up. Top albums included Nelly Furtado, Amy Winehouse, Fall Out Boy, Maroon 5 and Mika. In the second quarter, revenues took a slight dip to 1,068 million Euros, or $1,486 million.
Sony saw its quarterly profit triple, thanks to strong sales of its digital cameras, not music sales. Looking at Sony BMG, its net income hit $10 million for Q1, an improvement over the net loss in 2006's first quarter for the label. This was attributed in part to lower marketing, overhead and restructuring. Not a very optimistic time for record labels.
