UMG Expects Best-Ever Revenue In '07
November 29, 2006 at 5:52 AM (PT)
UNIVERSAL MUSIC GROUP CEO DOUG MORRIS told the REUTERS MEDIA SUMMIT in NEW YORK on TUESDAY (11/28) that new releases from EMINEM, 50 CENT and MARIAH CAREY will help his company report its best-ever revenue and profit in 2007. He also noted that music companies are seeing revenue from such digital sources as APPLE's iTUNES and iPOD and from mobile ringtones.
"You can see there are myriad streams of income starting to come into the record companies," he said. "We're going to make money from MYSPACE, we're going to make money from YOUTUBE, we're going to make money from ZUNE. We will make a tremendous amount of money from telephones."