Weak album sales hit Warners
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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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Sales were lower than expected, and the quality of earnings is in question.
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Music may still be a big force in pop culture, but the music businessâs own comeback attempt is falling flat.
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Warner Music Group Corp's  Chief Executive said on Monday the music company's business was poised to rebound as it tapped new revenue streams to counter the decline in sales of traditional CDs.
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Shares in Warner Music Group Corp.  fell 8.6 percent on Wednesday after rival record company EMI Group Plc  issued a profit warning on slowing sales in the North American music market.
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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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LONDON  - British music group EMI reported a fall in interim profits as sales dropped by 11.4 percent, reflecting a release schedule skewed towards the second half and the strength of sterling.
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Sales of music fell at a faster rate in  2007 than 2006 despite digital sales soaring, and the  gatekeepers of the Web must act if the industry is to beat  piracy, the international trade body said on Thursday.
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So far 2008 has not been a good year for music sales. This week Alicia Keys, below, stays atop the Billboard chart with âAs I Amâ (J), but the number of copies that CD sold is barely above the historic low for a No. 1 album. Nielsen SoundScan reported that 61,000 copies of the album sold last week; the least number of weekly sales for No. 1 is 60,000, set by the âDreamgirlsâ soundtrack a year ago. (The numbers are rounded.) This week the âJunoâ soundtrack (Rhino) is at No. 2 with 58,000, Mary J. Bligeâs âGrowing Painsâ (Geffen) is No. 3 with 52,000, and Radioheadâs âIn Rainbowsâ (ATO) is next with 46,000. The R&B singer Raheem DeVaughn opens at No. 5 with 45,000 sales of âLove Behind the Melodyâ (J) and John Legendâs new âLive From Philadelphia,â available only through Target, reached No. 7 with 33,000.
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Warner Music Group's  decision on whether to counter bid for British rival EMI Group  has become a tortuously long one, as the No. 4 player grapples with exposing itself further to recorded music amid a faster-than-expected decline in the industry.
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In a slow week for the Billboard chart, Alicia Keys reached No. 2 with 112,000 sales of âAs I Amâ (J); Mary J. Blige moved 89,000 of âGrowing Painsâ (Geffen) to reach No. 3; âNow Thatâs What I Call Music!â Vol. 26 is at No. 4 with 54,000; and the 18-year-old country singer Taylor Swift rose three spots to No. 5, though sales of her self-titled album, on the Big Machine label, dropped 39 percent last week to 47,000, Nielsen SoundScan reported. Radiohead reached No. 1 with the conventional release of âIn Rainbows,â through the ATO label, on CD and other formats. The indie-rock âJunoâ soundtrack (Rhino), popular online, opened at No. 8 with 38,000.
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Warner Music Group Corp  on  Friday posted a fourth quarter profit helped by gains from  litigation against online music service Kazaa, but sales fell  due to a weak release schedule compared with a year ago.
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Warner Music rejects Apple's idea that record firms should drop copy protection software from music downloads.
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Music sales fell faster in 2007 than 2006 due to a sharp fall in CD sales and competition from illegal file sharing.
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'Too slow, too low' EMI's board today rejected an approach by Warner Music Group, saying the price was too low and the format of the bid too cumbersome.â¦
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With the genre's sales plummeting, rap and its entrepreneurial artists are looking for a turnaround strategy
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U.S. album sales plunged 9.5 percent last year from 2006 despite a 45 percent surge in the sale of digital tracks, Nielsen SoundScan reported yesterday.