Wednesday, September 22, 2010

Rough Quarter For Major Labels

Billboard has (via Prefix) some numbers on the last quarters for three of the big four record labels, along with an annnual report for EMI. In that case, the label lost $800 million, which is actually a big improvement over the year before, when the label lost $2.3 billion. There's also an ongoing lawsuit between Terra Firma and Citigroup. Bad times.

The other three - Warner, Universal and Sony - reported drops or slight gains in revenue, and Warner has a $1 million operating loss, although that's much better than $25 million lost in the year before. Even Live Nation saw a drop in concert sales, with what was reported as a sluggish summer for many big-name bands.

Thank goodness for the Internet!

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