EMI Over 8 Percent Digital November 15, 2006Posted by David Card in Media.
Since Mark Mulligan’s on baby leave, I’ll post a few notes from EMI’s first half. It rocked, kinda, sorta…well, as much as a label/publisher can do so these days. EMI, which is very aggressive in digital products (and benefits from a big publishing business) said that while revenues were down 4%, digital grew 68%, to $139M in the first half. Digital comprises 8.5% of revenues, up from 5.4% in FY06 (March). That’s pretty darn good.
The chairman’s statement said:
- We believe that the fundamentals remain in place for the music market to return to growth driven by digital development. In the short term, the industry release schedule will help to drive the marketís trajectory and we are encouraged by the slate of industry releases due out for this Christmas season.
Jupiter believes that too — that digital will restore the industry to growth. New US forecast coming very soon.
I’ll have to take EMI’s word for the Xmas releases, but Robbie Williams and Norah Jones are on deck, sending chills down the spines of schoolgirls and boomers alike. No comment on “new” Beatles — that’s Todd’s domain.