Earnings: EMI’s Digital Music Revs Up 169 Percent For The Year

EMI Group reported its yearly fiscal numbers ending March 31 and also for the quarter. Its yearly profit grew 20 percent on the success of artists such as Coldplay, and pledged to continue its pursuit of smaller rival Warner Music Group. It reported net profit of $169 million for the year ended March 31, up from 74.9 million pounds in 2004. Revenue was up 3.9 percent to $3.9 billion.
Release: Digital sales increased to $211.14 million from $88.34 million the year before. Last quarter, the group digital sales more than doubled to $77.6 million. Within this EMI Music’s digital revenues grew to $174 million, increasing by 169% at constant currency (rest would be publishing revenues).
In U.S.: EMI Music’s digital sales in North America almost tripled over the year. Revenues from mobile increased by a factor of over 9 times. Online downloads continued to represent the largest digital segment, accounting for almost 70% of its digital sales in the region.
Full earnings and geographic digital breakdown in the release, here.

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