Weak album sales hit Warner Music
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Warner Music sees its latest quarterly profits fall 74% following weaker album sales than a year earlier.
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Music giant EMI sees profits fall in the first half of the year after opting to delay its major releases.
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EMI Group PLC, one of the world's largest music companies, warned Monday that its full-year sales and profits will be below expectations because of the delayed release of two key albums and market weakness in the fourth quarter. Its shares fell 16 percent.
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U.S. album sales were down 4.2 percent in the first half of the year, but sales of music downloaded online soared 77 percent, according to industry figures.
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A report on Apple iTunes by U.S.-based market consultant Forrester Research has found that the online music and video store recorded a major drop in sales.  Daily Variety said the report on more than 2,700 U.S.
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A spiffed up version of Usher's "Confessions" and new releases by country mainstay George Strait and rock acts Good Charlotte and Korn took over the top four slots on the U.S. pop albums chart, according to sales data issued Wednesday.
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The Warner Music Group said first-quarter profit fell 74 percent on an 11 percent decline in sales.
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Having a No. 1 album just isnât what it used to be. This week Alicia Keys is back atop the Billboard chart with âAs I Amâ (J), but the 61,000 copies it has sold is barely above the historic low for a No. 1 album, Nielsen SoundScan reported. The âJunoâ soundtrack, on Rhino, fell to No. 2, with 55,000 sold. New releases dot the chart this week. The Mars Volta, which revels in head-spinningly complex progressive rock, opened in the third spot with 54,000 sales of âFrances the Muteâ (Universal); the Welsh heavy metal band Bullet for My Valentine reached fourth place with âScream Aim Fireâ (Jive), selling 53,000; and the â2008 Grammy Nomineesâ compilation (Hip-O/Universal) moved 50,000, opening at No. 5. The remix album âHannah Montana 2: Non-Stop Dance Partyâ (Disney) bowed at No. 7, and Vampire Weekend, the acclaimed New York indie band, reached No. 17 with its self-titled debut on the XL label.
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Weak market, poor performance of key titles but takeover talks still on
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NEW YORK -- Recording company Warner Music Group Corp. said Friday it swung to a profit in the fourth-quarter, bolstered by a hefty settlement benefit, but its results fell short of Wall Street's expectations.
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Shares of Vivendi Universal, the owner of Universal Music Group, and Britain&#39;s EMI Group each traded down over 2 percent Friday amid a report that New York Attorney General
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The holiday mood at independent music retailers is one of cautious optimism, despite Nielsen SoundScan numbers showing that overall sales at U.S. indie merchants were down 7.1% from last year as of Nov. 28.
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Warner Music took the unusual step as a private company of revealing financial results to show how its restructuring efforts under new owner Edgar Bronfman Jr. helped turn a loss into a pro forma operating profit.
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Warner Music Group Corp  on Friday posted disappointing operating results and said it saw substantial pressure on operating income in the current quarter, and shares slid as much as 3 percent.
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Sales of physical and digital albums tumbled to 500.5 million units, as the music industry was pillaged by piracy and competition from other forms of entertainment like videogames.
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Warner Music Group reported a narrower loss Monday, crediting a restructuring effort that cut costs.
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Global music sales slipped again in 2004, but after four years of declines the record publishers will see the return of growing revenues in 2005 due to online stores and music DVDs, a survey found on Monday.