Warner Music Group’s investment in Lala wasn’t a complete bust, it turns out. Having invested $20 million in the streaming music service, WMG got at least $9 million back when Lala was acquired by Apple late last year, according to a proxy statement filed by WMG yesterday. Earlier last year, the label wrote down $11 million of its investment, but that still means it got a better return from Lala than it did from another investment – in Imeem – which was sold at a knockdown price to MySpace. Billboard does some more number crunching, claiming that Lala’s annual revenues were only around $2-$3 million, based on the $300,000 of royalties it paid WMG in 2009. The same proxy filing reveals that WMG earned $2.8 million of revenues from mobile content firm Thumbplay last year. Oh, and that chairman and CEO Edgar Bronfman Jr’s total salary plus extras package was worth more than $7 million last year. Source: PaidContent
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