RUMOR MILL

The quarterly downturn largely attributed to dips in Japan and short-term issues associated with the integration of EMI; it's expected that by the end of 2014 the "synergies" promised by the music merger would be realized.

Thursday, February 27, 2014

UMG: DOING THE NUMBERS

Vivendi Earnings Reports Shows Music Group Up for the Year, Down for the Quarter

Vivendi's quarterly report has arrived, so let's skip to the good stuff.

UMG's yearly revenues (using constant currency) were up 12.8% over 2012, at €4,886 million, while the music group's Q4 numbers declined 3.3%.

This was largely attributed to the turndown in Japan and short-term issues associated with the integration of EMI; it's expected that by the end of 2014 the "synergies" promised by the music merger would be realized.

EBITA was €511, up 1.4% (and up 9.5% excluding restructuring and integration costs).

The Vivendi report (also the title of a riveting Robert Ludlum spy novel) notes that digital sales surpasses physical for the first time in 2013, and cites a 75% increase in subscription and streaming revenue over 2012.

Insiders at HITS Magazine blame Zach Horowitz, not Lady Gaga, for the down quarter.

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UMG: DOING THE NUMBERS

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