EMI defiant in face of decline

EMI%20logoEMI Group, the music giant, says the development of the digital music market can return the music industry to growth. It made the comments as it revealed a 4.1% decline in group revenue for the six months to September 30.

The group’s profits were also down: from £86.7m for the same period last year to £62.7m. EMI says thelosses are due to a decline in the music division and a £9m hit from an accounting fraud at EMI Brazil.

The growth of digital products was strong across the group with revenue up by 68.4% to £73.3m. The sales now account for 8.5% of all group revenue.

The music division reported a 5.2% decline in revenue, which is attributed to a "light" half for new releases. But digital revenues grew by 78.2% for the period, which accounts for 9.4% of the division’s total revenue.

Recommended

Wrigley to revamp Orbit brand

Marketing Week

The Wrigley Company is relaunching its Orbit chewing gum range and introducing three new products. The move comes just weeks after Cadbury announced it is to launch its Trident brand in the UK next year. Wrigley is axing the existing Orbit range and replacing it with Orbit Complete, which will be positioned as an oral […]

The best tool for the job?

Marketing Week

With online set to topple TV as the major recipient of marketing expenditure, senior admen such as John Hegarty question whether brand owners really know how to exploit the medium, and if the Web can be used to build a brand from scratch by Dominic Dudley.

Andrex signs as ice rink sponsor

Marketing Week

Kimberly-Clark has signed a headline sponsorship deal with the Tower of London and Hampton Court Palace ice rinks to promote its Andrex Toilet tissue brand. The new tie-up coincides with the launch of its limited edition winter white packs, which are being sold at major retailers. The deal comes ahead of this weekend’s official launch […]

Comments

    Leave a comment