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Business News Labels & Publishers
Universal sees revenues rise in first quarter
By Chris Cooke | Published on Wednesday 15 May 2013
Revenues at Universal owner Vivendi were stable in the first quarter of its current financial year, though net income slipped by 18.5%, from 825 million euros to 672 million.
Unsurprisingly, it was the entertainment and communication group’s mobile business that caused most of that slide, it having been struggling for a while. Universal Music, in contrast, saw its revenues rise 13.5% year on year in the first quarter, to 1,091 million euros. Better than expected income from the mega-major’s newly acquired EMI units contributed to that upturn.
In terms of the digital to physical shift, digital products generated 54% of Universal’s recorded music revenue in the period, compared to 46% in the first quarter of 2012.