New York - Major record label Warner Music Group (NYSE: WMG) on Tuesday reported that digital revenue grew 26% in its fiscal fourth quarter, to $167 million, while full-year digital revenue increased 39% to $639 million, and now represents 18% of its total revenues.

The company reported a full-year loss of $56 million, or 38 cents per share, compared with a loss of $21 million last year.

CEO Edgar Bronfman Jr. also said the company is taking steps to prepare for a holiday shopping season where it's unknown to what degree consumers will be cutting back on spending due to the economy.

"I don't think any of us know what the Christmas shopping season will be," Bronfman told analysts on a conference call, according to the Associated Press.

"We are managing inventory very, very carefully and we are not over-shipping."

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