Revenue at the major was EUR1.9bn (?1.6bn) for the first half of the year, down from EUR2.0bn (?1.7bn) in the first six months of 2009.

Parent company Vivendi says in a statement that "fewer major local and international releases and reduced demand for physical product countered strong growth in merchandising sales and increased digital sales".

Big sellers for UMG over the period included albums from Lady GaGa, Black Eyed Peas, Eminem, Justin Bieber and Florence + The Machine.

Vivendi says ...