MUMBAI: According to Warner Music Group, the company has grown digital revenues and has established more comprehensive artist partnerships. The company’s continued transition from physical to digital revenues streams continues to expand. The company experienced revenue growth in France, Spain and Latin America, although this offset weakness in the US, Japan and the rest of Europe. Digital revenue as a whole, accounted for nearly 30% of fourth quarter revenue, with growth in digital reflecting growth in global downloads and subscription services.
Notable revenues were gained from artists including Red Hot Chili Peppers, Bruno Mars, Lenny Kravitz, Blake Shelton and Jason Derulo. Domestic recorded music digital revenue amounted to $433 million, of 45% of total domestic recorded revenue, up from $421 million. Major sellers were Bruno Mars, Cee Lo Green, Michael Buble and James Blunt.
Warner Music Group With its broad roster of new stars and legendary artists, Warner Music Group is home to a collection of the best-known record labels in the music industry including Asylum, Atlantic, Cordless, East West, Elektra, Nonesuch, Reprise, Rhino, Roadrunner, Rykodisc, Sire, Warner Bros. and Word, as well as Warner/Chappell Music, one of the world’s leading music publishers, with a catalog of more than one million copyrights worldwide.
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Warner Music is transitioning from physical to digital music platforms. It is estimated that the global digital music market will more than double from $7.4bn in 2010 to 20.1 bn by 2015, growing at a CAGR of 22.1% over the period. Subscriptions will be the fastest growing segment, growing at CAGR of 60.8% over the forecast period.
In terms of market value, the US, Japan, UK, France, and Germany are the key digital music markets, together accounting for 79.5% of the global market in 2010. India, China, and Mexico are the upcoming digital music markets, which present strong growth potential.
