Warner: Digital Sales Climb, but Losses Continue

Jonny Evans, Macworld.co.uk

Friday, May 09, 2008 7:28 AM PDT

Warner Music Group this week confirmed rising digital sales, though still returned a loss for the quarter.

The label's quarterly revenue climbed 2 per cent to $800 million, returning losses of $34 million on the quarter. While continuing to bleed profits, the company did announce its music business declined by under 1 per cent, but the main strength of its story lay in its digital sales.

Digital revenues climbed 47.6 per cent to $155 million, representing 23.8 per cent of total music revenues. Digital growth accelerated from last quarter, when it climbed 41 per cent.

Speaking to analysts after the event, company CEO Edgar Bronfman mentioned strong sales through iTunes, but focused on Amazon MP3, MySpace Music and the growing power of social networks as representing strong future opportunities for music sales.

Recommend this story?
Vote Yes
Vote No
0 Yes
0 No
Email
Comment

Community Comments

News For Your Business

More News

PC World's Marketplace

PC World's Free Whitepapers

Company News News

Company News - May 14, 2008
Apple's Developer Conference Sold out Apple confirmed on Wednesday that its Worldwide Developer Conference (WWDC) has sold out. This is the first time in the...
Macs - May 13, 2008
MacDayLA Set to Happen May 31 The second MacDayLA takes place at CBS Studio Center in Studio City, Calif. on May 31, 2008. It's a one-day gathering of...
Company News - May 13, 2008
Steve Jobs to Keynote WWDC As expected, Apple CEO Steve Jobs will once again kick off the company's Worldwide Developers Conference (WWDC) being held...
iPhone - May 13, 2008
Jobs Will Kick off Apple WWDC With Keynote Jobs is expected to use the stage to announce a next-generation iPhone capable of connecting to faster 3G-based data networks.

Latest Expert Blogs

Neil McAllister on Software - May 15, 2008 10:17 AM
Flash Player 10 Available for Public Testing Adobe's next-generation browser plugin brings improved 3D, text handling, and graphics acceleration.
Glenn Fleishman on Hardware - May 13, 2008 11:29 AM
AT&T Pushes Fiber Service for Small Businesses Small businesses can get fiber connections from AT&T as fast as 10 Mbps downstream for $100 per month, and receive a Wi-Fi gateway and Wi-Fi hotspot access as the cherry on top.
Erik Larkin on the Web - May 14, 2008 10:34 AM
Master Your Bookmarks Tips and tools for managing bookmarks in that ultimate productivity tool, the Web browser.

All Blogs

Featured Resources

Premier Content From Our Sponsors

Smart and affordable data protection for your organization. Visit the CDW Solution Center for more info...
Lenovo Laptop Showcase Balance performance and portability with Lenovo notebooks...

Laptops

F750US NotebookPrice: $459.96

5.00 stars

13.3" MacBook Air NotebookPrice: $1638.77

4.18 stars

Satellite A135-S2386 NotebookPrice: $510.60

3.84 stars

Satellite A215-S7422 NotebookPrice: $524.99

3.71 stars

Featured Whitepapers

White papers, case studies and product info from top brands

An Introduction to Networked Storage This paper provides an introduction to the basics of networked storage and its relevance to smaller business operations where storage specialists are typically not found. It discusses the origins and development of the latest advances in storage tec...
VMware Solutions for Small to Medium Businesses Small and medium businesses (SMBs) are always looking for new ways to optimize their existing IT investments. VMware equips SMBs with technology that allows them to cost effectively optimize the use of their existing IT assets and resources as wel...