Feeds

EMI profits up on iPod factor

Digital means dollars...

Beginner's guide to SSL certificates

EMI is crediting downloads for a 13 per cent increase in profits despite falling sales of physical products.

The record giant, which only started offering music over the internet in 2003, and has Coldplay, Robbie Williams and Gorillaz on its books, increased profits to £159m on revenues which grew at just 2.1 per cent to £2.1bn.

Group digital sales jumped from £46.9m to £112.1m and group operating margin grew by almost a percentage point to 12 per cent in the year ended 31 March 2006. Physical sales fell 5.3 per cent.

EMI Group chairman Eric Nicoli said: "Digital revenues continue to grow at a very rapid pace in both divisions as we aggressively pursue new digital uses and demand for our exclusive music content. In 2005, Coldplay's latest album release, X&Y, was not only the industry's biggest selling album globally but also the largest selling digital album release in the US."

Digital sales in the US almost tripled over the year with mobile revenues growing fastest - increasing by a factor of nine, but internet downloads still make up 70 per cent of the market in the US.

In the UK and Ireland, physical sales fell 4.9 per cent but digital sales grew by 170 per cent. EMI blamed weak sales of compilations, especially over Christmas, for the decline.

Continental Europe, as EMI calls it, saw total industry sales fall 3.7 per cent. Digital sales in the region grew by 245 per cent and mobile revenues are a larger proportion of total sales than in the UK or US.

Physical and digital sales in Japan grew by six per cent in the year.

Looking forward, EMI predicted that digital music will make up 25 per cent of total global music sales by 2010.

More from EMI here. ®

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.