Talking of Universal, the Universal Music Group has just posted half year earnings of 220 million euros (approx £149 million) before interest and tax. That's down 75 million euro on the same period last year, though the major's parent company Vivendi point out that in the first half of 2006 they recovered 50 million euro relating to the previously reported Universal/TVT dispute, which skewed those figures. They are also keen to point out that Universal's digital revenues increased by 50% in the first half of 2007, and that Universal Music's significant profits come despite "a difficult recorded-music market" and "unfavourable currency movements", and that they outperformed all their competitors. Which is all lovely.
Sep 4, 2007
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1 min read
Universal Music Group half-year profits good but down
Universal Music Group posted half-year earnings of 220 million euros before interest and tax, down 75 million, while digital revenues rose 50%.