Universal Music Group’s economic results

For the first half, Universal Music Group’s (UMG) revenues were €1,863 million, a 1.9% decrease compared to the first half
of 2010 (-2.0% at constant currency) with a 13.5% increase in digital recorded music sales, higher license income and strong
growth in merchandising, offset by falling demand for physical product. Revenues in the second quarter increased by 0.6%
at constant currency.
Recorded music best sellers included new releases from Lady Gaga and Jennifer Lopez and strong carryover sales from
Rihanna. Regional best sellers included Girls’ Generation in Japan and Bretonne, the latest release of Nolwenn Leroy in
France.
UMG’s EBITA was €132 million, a 17.0% decrease compared to the first half of 2010 (also -17.0% at constant currency).
Changes in the sales mix and restructuring charges associated with the reorganization plan announced last year were offset
by operating cost savings and a favorable legal settlement with LimeWire. EBITA before restructuring charges declined 6.5%
at constant currency in the first half. As a result of a rebound in the US, the EBITA increased by 7.7% before restructuring
charges and at constant currency in the second quarter.
Upcoming releases will feature new titles from Lil Wayne, Justin Bieber, Andrea Bocelli, Louise Attaque, Snow Patrol,
Roberto Alagna, Rihanna, GReeeeN and the latest American Idol winner, Scotty McCreery, among others.

Source: Vivendi