WMG Becomes The 3rd Largest Music Company
July 18, 2007 at 5:43 AM (PT)
WARNER MUSIC GROUP overtook EMI in 2006 to have the third-largest share of the global recorded music market, while UNIVERSAL MUSIC maintained its overall dominance, reports REUTERS. UMG had a share of 25.7% in 2006 for physical and digital music markets, slightly up from its share of 25.6% in 2005, and ahead of SONY BMG at 21.2%.
WARNER had a market share of 13.8%, up from 12.8% in 2005, while EMI, which issued two profit warnings within five weeks earlier this year, dropped to a share of 12.8% from 13.6% in 2005.
The remaining 27.5% was held by independent labels.
The report attributed EMI's fall to a poor performance in the UNITED STATES and cited research by NIELSEN SOUNDSCAN, which showed EMI's share of total physical album sales in the U.S. at 10.2%. The report said WARNER had benefited from its 16% share of the digital-only market, compared with EMI's 10.5%.