EMI Profits Take Hit; Digital Revenues Triple

Even as EMI announced lower core profits for full year ending March 31, 2004, its digital music revenues–including proceeds from ring tones and those accrued from online stores such as Apple’s iTunes Music Store–tripled to be worth over £15 million.

EMI chairman Eric Nicoli said: “Particularly in the US we’ve started to see very real reductions in the level of downloading and increased awareness among downloaders that what they are doing is illegal.”

More details in the press release

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