Warner Music Group

Warner Music Group just released 4th quarter & full year sales results (sept ’07 to sept ’08). Here are the highlights:

• Digital revenue grew 0.6% to $167 million from 3rd quarter ’08
• However, digital revenue grew 28% when compared to 4th quarter ’07
• Full year digital revenue grew to $639 million (39% increase)
• Digital revenue for full year results was 18% of total revenues
• Full year revenue increased to $3.49 billion (3.2% increase from ’07)
• Net income for full year was a loss of $56 million (full year ’07 loss was $21 million)
• For 4th quarter, domestic revenue down 5.4% to $420 million (-3.9% for full year)
• For 4th quarter, international revenue was up 3.7% to $443 million (+10.3% for full year)
• Digital Sales balance for Atlantic Records, part of Warner, is now 51%, the largest market share among major label units.

Stay tuned,
Erik
erikrostad.com