Universal revenue rises in first 9 months of 2012 - but earnings dip
Universal Music Group posted a revenue rise of 2.1% to €2.9 billion in the first nine months of 2012 year-on-year.
The rise comes thanks to an 8.6% increase in digital sales along with higher license income which helped to offset falling demand for physical product.
UMG posted a 2.5% decline in earnings before interest taxes and amortisation over the same period, however.
On a constant currency basis, Universal Music’s EBITA fell by 5% along with revenue, which fell 3.4%.
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