UMG’s Earnings Fall 32% In Q2

By  |  1 Comment

Universal Music Group’s earnings before income taxes (EBIT) declined 32% in Q2 2009 as Vivendi reported results from the first half of the year. The world’s leading music group saw its revenue slip only 1.7% versus the same period last year.

UMG’s Q2 revenues dropped 2.8% to €983 million ($1.4 billion) (the constant currency decline was 7.5%). EBITA was down 31.8% to €101 million ($144.7 million) from €148 million ($212 million).

Vivendi’s revenue rose 17% to €13.178 billion ($18.9 billion) and EBITA increased 12.9% to €2.899 billion ($4.2 billion). The company confirmed strong EBITA growth for 2009.

UMG’s digital revenue was up 29% in the first half of the year. First-half EBITA was €211 million ($302 million), down 18.5%. The decline in licensing income (including copyright settlements) was greater than gains made from new business and cost savings.

UMG’s Q2 2009 revenue dropped 4.2% sequentially, a deeper drop than the 2.1% sequential drop in Q2 2008. Q1 2009 revenue was €1.026 billion ($1.5 billion) while EBITA was €110 million ($158 million).

UMG’s U.S. track-equivalent-album market share was 29.23% at the end of Q2, according to Nielsen SoundScan. That’s down almost two points from 31.13 at the end of Q2 2008.

Source: Billboard

Blog Widget by LinkWithin

1 Comment

  1. nike air max cheap

    August 27, 2013 at 9:26 pm

    IWC watches require an intricate type of seem. Students make, change furthermore cancel salon prearranged consultations with great signal.

Leave a Reply

Your email address will not be published. Required fields are marked *