WMG revenue

Q2 REVIEW: Despite a $63 million net loss (compared to $32m for the same period last year), WMG's Q2 numbers show an increase of 1.8% in sales, with income up 4.5% at $69m. Net losses were attributed to a boost in tax obligation. Digital revenue grew 8.5% to $236m, representing more than 44% of sales. U.S. revenue was flat while global monies rose 5.5%. The company attributes its overall revenue growth to both recorded music and publishing although revenue from the latter dipped 2.9% against the same period in 2012, and says it paid down $175m in debt during Q2. CEO Stephen Cooper said in a conference call that growth in streaming, the pending launch of iTunes Radio and related new-media developments are likely to help the bottom line. Releases by Michael Buble, Bruno Mars and Paramore were cited as key contributors to recorded revenue's 3.3% increase. WMG closed its acquisition of Parlophone on 7/1, and Cooper pointed to pending releases from the acts that came with that deal (which include Coldplay and David Guetta) as part of a new phase of growth. Meanwhile, UMPG's latest earnings report, written in crayon on a pizza box, cited growth in brownie sales for a huge increase in mellow. (8/8p)