Warner Music Group FY losses halve as digital revenues soar
Warner Music Group’s net losses were cut by 45% to $112m in the 12 months to September 30, 2012, as digital recorded revenues soared.
FULL FISCAL YEAR
WMG, which encompasses Warner's label, publishing and services businesses, posted a $112m net loss for the year, compared to a $205m loss posted in 2011 - a 45% reduction.
Adjusted net loss for the group - which includes Warner’s label and publishing businesses - also reduced, from $137m to $97m, a 29% dip.
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