The best news is that UMG’s EBITA of €686 million ($865 million) was up 11.6% at constant currency (+9.9% in actual currency) year over year, reflecting continued effective cost management, the consolidation of BMG Music Publishing in the full-year results, and higher license income, including copyright settlements. EBITA includes €53 million ($68 million) of restructuring costs (compared to €67 million, or $84 million, in 2007), including costs associated with the integration of acquisitions and the rationalization of the recorded music division.
Revenues increased in at Universal Music Group Publishing and Bravado merchandising following the 2007 acquisitions of BMG Music Publishing and Sanctuary, respectively, making up for the inevitable falloff in recorded music: a 4.8% decrease at constant currency (an 8.8% decline in actual currency). Also inevitably, digital sales grew 37% at constant currency, driven by strong online growth in all major territories, and higher mobile sales outside of North America, which continues to lag in that growth area.
Mirroring the
THE COUNT: COACHELLA, FROM THE COUCH
The coziest way to experience the fest (4/19a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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