UMG Revenues Decline, But Earnings Rise
Parent Company Vivendi Reports Record Profits
March 1, 2012 at 5:40 AM (PT)
UNIVERSAL MUSIC GROUP parent company, VIVENDI has reported a record annual profit of eu2.9 billion, led by gaming division ACTIVISION BLIZZARD, which created the hit CALL OF DUTY. VIVENDI's adjusted net income was up 9.4% to eu2.95 billion in 2011.
UNIVERSAL MUSIC GROUP reported a 5.7% decline in revenues, falling to eu4.2 billion, however earnings rose 7.6% to eu507 million.
UMG saw digital music sales grow by 9.6%. Digital sales now account for 33.6% of all the company's music sales.