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Universal Music Wants To Expand Beyond Just Music

(via TechDirt) Interesting but perhaps foolhardy: Universal Music Group, the world’s largest record company onwed in part by Vivendi Universal, said it is transforming itself into a broader entertainment company that derives more revenue from untapped sources like advertising and apparel. This was at a London analysts conference today…here are the presentation slides etc (includes audio and presenation slides)…

Sales have begun to level off as ringtones, legal downloading and subscriptions offset the decline in CD sales. UMG said those businesses have swelled to 100 million euros in the first-half of 2005 from virtually nothing two years ago.

The company also said without elaboration that it wants to “tap into the enormous demand for free music, and generate revenue from those who can’t or won’t pay.”

Related: ML Media Conference: Universal Music Group: Digital & Mobile