Universal Music Group Q3 Down

Down 2.1% In U.K.

BRITISH website NEW MEDIA AGE reports UNIVERSAL MUSIC GROUP's third-quarter revenues fell by 2.1% despite digital sales increasing by 88% on the same period last year.

The figures for the three months to OCTOBER 31 saw total revenue at the world's largest record company hit £734m, including the previously announced £324m received as part of its settlement with NAPSTER. Digital remains the fastest-growing area of UNIVERSAL's business, generating revenues of £84m, representing an 11.5% share of the company's total revenue.

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