Vivendi’s Q1 Beats Forecasts; UMG’s Digital Music Sales Double

Vivendi posted a forecast-beating 5.7 percent rise in Q1 sales, invigorated by strong performances by music artists such as Prince and online role-playing game World of Warcraft. The group, which owns the world’s biggest record company, Universal Music Group, generated revenues of $5.88 billion in Q1. World of Warcraft helped lift first-quarter games revenues by 18.6 percent to 134 million euros.
UMG posted revenues of 1.125 billion euros, with digital sales (about $136 million) more than doubling on 2005 and making up 10 percent of total music revenues.
Also, Vivendi CEO backed the company’s strategy in stayng in both telecom and emdia sectors: Vivendi chief backs business strategy: Jean-Bernard Levy said that the increasing demand for services such as TV on mobile telephones was a powerful argument for maintaining a presence in both media and telecoms.
The earnings release is link from here

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