WMG reported its fiscal fourth quarter results yesterday, revealing total revenues of $752 million – down 13% year-on-year. Digital revenues were $197 million – 26% of the total, but up just 7% year-on-year. However, in the US, digital is now 40% of WMG’s recorded music revenue. The company ended the quarter with a cash balance of $439 million and total long-term debt of $1.95 billion.Read more: http://tinyurl.com/35gf4yh
The full article is available to our subscribers only.
If you're a subscriber, you can login here
You can subscribe here (where there are options for monthly, twice-yearly, annual and trial subscriptions)