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Music Week

| May 05, 2001 | COPYRIGHT 2001 UBM Information Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SONY POSTS DIP IN INCOME

Sony has reported a 13.4% decline in music sales to $4.9bn in its results for the fiscal year ending March 31. It attributed the decline to investment in "various digital media development" activities, closure of a US cassette manufacturing plant, soft market conditions in key territories and delayed new releases.

MUSIC SALES BOOST UNIVERSAL

Universal Music Group (UMG) was one of the star performers in the first quarter for Vivendi Universal, boosting its earnings before income, tax, depreciation and amortisation 15% year-on-year to 180m [European Dollar] (111.8m [pounds sterling]) for the first three months. Revenues for the period rose 3% to 1446m [European Dollar] (898.1m [pounds sterling]), mostly on the back of albums by Shaggy, U2, Eminem and Limp Bizkit.

MADONNA DATES SELL OUT

Tickets for Madonna's six summer concerts at London's Earl's Court sold out within six hours last week, despite being the subject of an unusually high price structure of between 40 [pounds sterling] and 85 [pounds sterling]. The first concert, taking place on July 4, sold out within 15 minutes of going on sale last Thursday.

WEA LONDON RECRUITS DEMBO

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