UMG Revenue Up

UMG Revenue Up
Universal Music Group reported first-quarter revenue of $1.28 billion, up 9.1 percent compared to the same period last year, and earnings before interest, taxes and amortization increased 47 percent to $90.8 million. The company attributed the growth to strong releases from Lana Del Rey, Gotye, Madonna, Nicki Minaj, and Van Halen, among others. Additionally, digital sales now account for 39.8 percent of UMG music sales. (5/16)

Canada's MuchMusic Awards Nominees Announced
Nominations for Canada's 2012 MuchMusic Video Awards were announced with pop group Marianas Trench in the lead with seven nominations, including Video of the Year for "Fallout" and Pop Video of the Year for "Haven't Had Enough." Additional artists garnering multiple nominations include GRAMMY nominees Justin Bieber, Drake, LMFAO, and Katy Perry, and GRAMMY winner Rihanna, among others. The awards will take place June 17 in Toronto. In related awards news, GRAMMY winner Whitney Houston will be posthumously honored with the Billboard Millennium Award, which recognizes artists' achievements and influence in the music industry, during the annual Billboard Music Awards on May 20 in Las Vegas. (5/16)

Layoffs At Sony
Sony Corporation will reportedly shutter its distribution center in Fishers, Ind., and lay off more than 200 employees there, according to a report in the Indianapolis Star. The news follows Sony CEo Kazuo Hirai's April announcement that the company would let go 10,000 employees across the globe over the next year due to steep corporate losses. (5/16)

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