Digital music sales continue to grow, the latest results from giant major label, Universal Music confirm.
Issuing its full year results this week, parent company Vivendi revealed that digital sales in its music division grew 8.4% last year (Results release, PDF link).
Despite this area of growth, revenues at Universal were down 6.2% from 2008 to €4.36bn. Digital, however, grew 8.4% despite the company reporting a “softening demand for mobile products in the United States and Japan”.
France’s music market continued to decline in the first half of 2008, the latest figures from French music label trade association, SNEP confirm.
Released this week the data suggests that the wholesale value of the market decreased €278.7 million in the period – down 12.2%. Christophe Lameignere, chairman and CEO of Sony BMG France and president of SNEP, said the figures were not a surprise and stressed “We were more pessimistic in our forecasts.”