WMG Adopt Digital Focus

05/09/07
. (FMQB) Warner Music Group (WMG) announced its second quarter financial results for the period ended March 31, and like most record companies, WMG is seeing a decline in CD sales while digital music revenue is increasing. The company posted total revenue of $784 million for the second quarter of fiscal 2007, which is down 2 percent from the prior-year quarter. Digital revenue increased to $111 million, accounting for 14 percent of total revenue in the quarter. That number is up 23 percent from $90 million in the prior-year quarter and up 11 percent sequentially from the first quarter of fiscal 2007.

WMG also said that it will continue restructuring, cutting about 400 jobs and focusing more on its digital distribution system, according to Reuters.[see full story for more] - Click here for the Full Story

Note: The preceding story is a summary of the full story published by FMQB, if it was followed by a message to see the full story. To read the entire story click on the link following the story.

Additionally, if you wish to comment on this story, please use the Fan Speak area below.

The links provided below will link you to related articles, a CD store for preview and purchase of related music, as well as premium tickets (where applicable.)

Click here to return to the full Day in Rock report for 05/09/07

Preview and Purchase Red Hot Chili Peppers music

antiMUSIC News featured on RockNews.info and Yahoo News

Day In Rock

Van Halen I: The Album That Made Eddie A God Documentary Now Streaming- David Ellefson Teams With Chip Z'nuff and More For 'Ah! Leah!' Cover- more

Sammy Hagar Reveals Classic Song That Alex Van Halen Rejected- Amen's Casey Chaos Had Project With Roy Mayorga- more

Day In Country

More Stars Added To Nashville's Big Bash Lineup On CBS- Corey Kent Marks '24 Live Release With 'Bixby' Video- more

Reviews

Live: Dave Koz & Friends

Beatles Vinyl Box Set

MorleyView: Gino Vannelli

On The Record: The Motown Sound Collection, Part 1 The Supremes

A New Album, Ornaments and One Ugly Sweater: Merry Christmas from Joe Bonamassa!