UMG Revenue Down, Digital Up

UMG Revenue Down, Digital Up
Vivendi has reported fourth-quarter revenue of $10.27 billion, down 2.6 percent compared to the same period last year. Earnings before interest, taxes and amortization decreased 5.9 percent to $1.3 billion, while adjusted net income decreased 1.5 percent to $571 million. The company's Universal Music Group posted an 11 percent decrease in revenue to $1.7 billion and a 15.9 percent increase in EBITA for the fourth quarter. UMG's overall revenue in 2011 reached $5.5 billion, down 5.7 percent compared to the same period last year. Digital music sales, which grew 11.3 percent in the quarter, now represent 33.6 percent of UMG music sales. (3/2)

Trans World Posts 4Q Profit
U.S. specialty music and video retailer Trans World Entertainment reported a net profit of $16.5 million for the fourth quarter ending Jan. 28, a 33.6 percent increase compared to the same period last year, marking the company's first profitable year since 2007. Despite the increase, revenue from sales declined 16.8 percent due mainly to store closures, and the music category experienced a 10 percent comparable store decline. Trans World's total net income for 2011 reached $2.16 million, up from the $31 million loss reported in the prior year. (3/2)

Email Newsletter