Blog Post

Earnings: EMI’s Digital Revenues Up

EMI Group, the third-largest record company, has reported earnings for its fiscal first half 2006 and has some good results. EMI’s digital sales rose 142 percent to 45 million pounds on a constant currency basis, representing 4.9 percent of group sales versus 2.1 percent in the first half of 2004.

Some more figures from EMI: On a global basis, digital now represents approximately 5.8% of the total recorded music market, compared to approximately 2.0% a year ago. This digital growth almost offset the decline in physical music sales in the half, with the global recorded music market declining by an estimated 0.9%.

Breakdown:

— EMI Music: Digital revenues continued to grow very rapidly almost tripling in value on the prior year to 35.9 million pounds. They now represent 5.0% of EMI Music’s sales, up from 1.8% in the prior year’s first half.

— EMI Music Publishing: Digital revenues grew strongly during the period, increasing by 42.6% on the prior year to 8.7 million pounds.

The earnings webcast is here