UMG Revenue Down Slightly In First Quarter

UMG Revenue Down Slightly In First Quarter

UMG Revenue Down Slightly In First Quarter
Universal Music G
roup has reported revenue of $1.15 billion for the first quarter of 2011, down 0.9 percent compared to the same period last year, and a 32.4 percent drop in EBITA to $65 million. Recorded music sales during the quarter decreased 2.7 percent while digital revenue increased 17.6 percent. The company attributed the decline of recorded music sales to a limited schedule of new releases and falling demand for physical product. (5/16)
 

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