UMG Remains The Industry's Top Dog
May 28, 2009 at 4:54 AM (PT)
UNIVERSAL MUSIC GROUP maintained its position as the world's largest recorded music company and music publisher for the third consecutive year in 2008, reports REUTERS. A report by INFORMA called "Music & Copyright" said UNIVERSAL increased its share in terms of revenues generated from the sales of both physical and digital recorded music, due to hits from artists such as singer DUFFY.
UNIVERSAL had a market share of 28.7% in 2008 from 28.1% in 2007, ahead of SONY BMG with 21.1%, WARNER MUSIC GROUP with 14.9% and EMI with 9.6%.
In music publishing, UNIVERSAL had a market share of 23.2%, ahead of EMI on 18.3% and the other major groups.
"This marks the third straight year that the same company has been number one in both the recorded music and publishing sector," report editor SIMON DYSON said. "Although all the majors reported reduced recorded music revenues in 2008, UMG's decline was the lowest. This suggests that UMG is simply more successful than the others in marketing and selling music or is cashing in on the influence that being dominant brings."