![](\"http:\/\/nymag.com\/daily\/entertainment\/15_unimusic_lgl.jpg\")
Universal Music Group saw revenues rise 13.5% in Q1 2013, while parent Vivendi has reported an 18.5% profit dip for the period with overall revenues remaining flat. <\/p>\n
Universal Music Group saw revenues rise 13.5% in Q1 2013, while parent Vivendi has reported an 18.5% profit dip for the period with overall revenues remaining flat. <\/p>\n
Digital sales represented 54% of recorded music sales globally compared to 46% in Q1 2012. While CFO Philippe Capron highlighted the now worldwide trend as a point of interest, he told investors that the first quarter typically sees a rise in digital sales.<\/p>\n
Universal revenues hit \u20ac1,091 million in the first quarter, bolstered by better than expected results from EMI labels and partially offset by lower revenues in Japan and the disposal of the company\u2019s VE\/Fontana activities in 2012, according to the company.<\/p>\n
UMG\u2019s EBITA of \u20ac55 million was down 19.1% due to higher restructuring and integration costs and the benefit of the non-recurring gain on the disposal of the VE business in the prior year. Excluding the impact of those items, EBITA was up 6.2% as the lower revenues in Japan were offset by active cost management.<\/p>\n
Vivendi says that recorded music best sellers in Q1 were led by the soundtrack from Les Miserables and new releases from Rihanna, Bon Jovi, Justin Bieber, Lil Wayne, Emeli Sand\u00e9, Andrea Bocelli and a 2013 Grammy Awards compilation.<\/p>\n
Vivendi itself reported virtually flat revenues of \u20ac7,051 million \u2013 down 1% compared to Q1 2012, up 0.3% at constant currency.<\/p>\n
Adjusted net income in Q1 2013 was \u20ac672 million, down 18.5% year-on-year, which Vivendi says is due to an EBITA decrease.<\/p>\n
Vivendi EBITA was \u20ac1,344 million, down 17.2% (16.% at constant currency) year-on-year.<\/p>\n
\u201cConfronted with a very challenging economic environment, Vivendi\u2019s subsidiaries are implementing the necessary adaptation measures,\u201d said a note in the company\u2019s financial report. \u201cConsequently, first quarter 2013 results are in line with our outlook and enable us to confirm our annual guidance across all the Group\u2019s businesses.\u201d<\/p>\n
Source: Music Week<\/p>\n","protected":false},"excerpt":{"rendered":"
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