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April 27, 2005

Digital Music Revs 4 Percent of Total UMG Sales

Earnings: That's according to the Q1 2005 earnings release for Universal Music Group's parent...Sales of digitized music, including downloads and ringtones "showed strong growth and represented 4% of total revenues", up from 2 percent in 2004. That's about $54 million for the quarter...
Update: WSJ: In a few years, it could represent 20% of the company's revenue, [Vivendi CEO Jean-Bernard Levy] predicts.
Also, on new UMG policy to charge sites/portals for playing music videos: While Levy touts the new policy as a potential gold mine, the deals with AOL, Yahoo and MSN combined will probably generate less than $10 million in extra revenue this year, or barely 0.2% of Universal's likely total revenue.

Posted by Rafat Ali in UMG | Permalink


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