The Universal Music Group's first quarter earnings were up 136% to 90 million euros. The good financial performance was aided by strong digital sales, a growth in the group's publishing operations and higher physical sales volumes, plus the recovery of a 50 million cash deposit in relation to the major's ongoing US lawsuit with independent TVT Records. The latest figures were revealed in the first quarter financial report from parent company Vivendi which were released this week - though they pretty much match the top line figures released in previously reported preliminary results which were published last month.
May 19, 2006
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1 min read
Universal Music still looking healthy
Universal Music Group's first quarter earnings rose 136% to 90 million euros, helped by digital sales, publishing growth and a 50 million cash deposit recovered from its TVT lawsuit.