As part of Vivendi Entertainment’s recent quarterly earnings, Universal Music Group reported stable revenues for the past quarter, and soaring digital sales, up 27.2% from the same quarter last year.
For Q1 2009, UMG reported revenue of $1.39 billion, down just 0.7% from $1.4 billion in Q1 2008. Digital sales, meanwhile, were up 27.2% to 28% of recorded music sales.
By contrast, competitor Warner Music Group’s digital sales for the last quarter were only up 7.1% year-over-year, even though that revenue stream represented a larger portion of recorded music’s earnings: 30.9%.
As of the end of 2008, Universal Music Group had made far more money from digital music sales than its competitors: $1.2 billion compared to $599 million from its closest competitor WMG.
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