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Wednesday, February 15, 2006
Warner Music Group logo. Image: Warner Music Group.
Warner Music Group first quarter earnings rose sharply mostly from growth in digital music sales offsetting falling CD sales. Warner Music sells digital music to several online services including Apple's iTunes at wholesale. The company's first-quarter revenue from digital music sales doubled to US$69 million, accounting for 7% of overall revenue. Madonna, Green Day, and James Blunt are signed to subsidiary labels of Warner.
Warner Music has undergone restructuring after being sold in 2004 by former parent company Time Warner. Cutting costs, exploiting current assets, and digital music has been the company's focus since going public in May.
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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
