There’s good news for the world’s largest record company, UNIVERSAL MUSIC GROUP, with reports that the company will begin posting profits again. UMG, like most labels, took a major hit in the post NAPSTER world when CD sales began to fall. Now, it’s digital that’s leading the way back to black.
UMG reported YESTERDAY (11/13) that revenue for the last nine months had risen 2.1%. CD sales were down again by 14.2% to “eu1.02 billion ($1.29 billion) while digital grew another 8.6% to eu916 million ($1.16 billion) — poised to overtake physical sales soon,” reports PAIDCONTENT.ORG.