This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Labels & Publishers
Universal sees revenues rise in first quarter
By Chris Cooke | Published on Wednesday 15 May 2013
Revenues at Universal owner Vivendi were stable in the first quarter of its current financial year, though net income slipped by 18.5%, from 825 million euros to 672 million.
Unsurprisingly, it was the entertainment and communication group’s mobile business that caused most of that slide, it having been struggling for a while. Universal Music, in contrast, saw its revenues rise 13.5% year on year in the first quarter, to 1,091 million euros. Better than expected income from the mega-major’s newly acquired EMI units contributed to that upturn.
In terms of the digital to physical shift, digital products generated 54% of Universal’s recorded music revenue in the period, compared to 46% in the first quarter of 2012.
