Posted February 9, 200718 yr Weak album sales hit Warner Music BBC Entertainment News Warner Music has reported a 74% fall in profits for the final three months of 2006, following weaker album sales than in the same period a year earlier. The music group's net profits fell to $18m (£9.2m) for the quarter, compared with $69m for the same period in 2005. While Warner's digital music sales jumped 45% to $100m, this still only accounted for 11% of total revenues. Sales of physical music products such as CDs declined 13% to $800m following poor sales in the US and Europe. Warner's overall revenues for the quarter - its fiscal first - fell 11% to $929m from $1.04bn a year earlier. Both its profits and its revenues were below market expectations. During the quarter, sales of albums by artists including My Chemical Romance failed to match those of hit albums a year earlier by artists such as Madonna, James Blunt and Green Day. Warner, the world's fourth-largest record company, last year rejected a takeover approach from its UK rival EMI. After poor figures from EMI is the Record Industry as a whole in decline & what can be done to turn things around?
February 9, 200718 yr I've given my anti-record company speech on this board way too many times already :lol: The major labels are absolute scum, they are the greediest and most dispicable people in world and for way WAYYY too long, millions of people lined up to hand them gobs of money. You want me to pay $18 for a CD when the physical disc costs $.10 to make and the artist is receiving less than $1? And you guys pay even more in the UK, especially for singles. It is SUCH a ripoff! So then with all that extra money, the record companies bought (or bought off) the music stores, the radio stations, the music channels... so they basically operate a system by which they force an artist on you through various means, you buy the CD, and the money keeps piling up. So then digital music came about and instead of exploiting that important market, they whined and complained and sued 7 year olds for FIVE YEARS. And now they're furious that people aren't buying albums anymore and they aren't raking in as much as they used to. It's PATHETIC, they expect people to be buying CDs in 5 years? Give me a break, digital is the future and it's a lot more difficult to sell digital music for the absurd prices people pay for CDs.
February 9, 200718 yr I'm not surprised, I know f*** all about record companies but I remember reading something about Warner early last year. There were LOADS of big new albums out for Warner that sold shedloads, this year there've been hardly any.
February 9, 200718 yr QUOTE(Parental Advisory @ Feb 9 2007, 05:00 PM) Oh no! Both Ashley & Paris are signed to that Ashley Tisdale ? Yup. she signed with Warner instead of Hollywood
February 9, 200718 yr Yup. she signed with Warner instead of Hollywood oh damn :( well hopefully if this deal falls through she can always sign with Hollywood :lol:
February 9, 200718 yr They'll pick up at the end of this year anyway with new albums from Enya and Madonna. :D
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