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Digital Music Sales Improve Quarterly Profit at Warner Music Group

Authored by Mark Hefflinger on February 15, 2006 - 9:45am.
New York - Major record label Warner Music Group credited digital music sales for helping to nearly double its quarterly profit to $69 million, up from $36 million a year earlier. The company reported digital music revenue of $69 million for the first quarter of 2006, up 30% from the fourth quarter of 2005. Warner said 70% of its digital music sales were made in the U.S., adding that sales were split evenly between full-track downloads and ringtones.
tags: Music | Digital | Improve | Sale | Quarterly Profit | Warner |