Universal Music Group posted revenue and earnings gains during the most
recent quarter, thanks largely to acquisitions involving BMG Music
Publishing and Sanctuary. The gains were shared by parent company
Vivendi on Thursday, part of a broader financial disclosure. 

During the quarter, UMG revenues surpassed 1.098 billion euros ($1.4
billion), a 1.1 percent gain at constant currencies.  The earnings
(EBITDA) bump was more pronounced, jumping 33.0 percent to 149 million
euros ($190.4 million), also measured at constant currencies.

But measured against real currencies, the story started to shift.
Instead of a revenue lift, currency fluctuations created a 6.2 percent
drop from year-ago revenues of 1.17 billion euros ($190.4 billion).  On
the earnings side, real-currency revenues gained a more modest 29.6
percent.  Similar recalculations are being felt by a large number of
multinational corporations, especially as the dollar continues to gain.

Meanwhile, recording sales continued to slide at the major, though
Vivendi noted that publishing, merchandising, digital, and licensing
gains are offsetting the drop.  "These factors more than offset lower
physical sales," the company disclosed, referring to year-to-date
tallies.

Vivendi Q3 Review

LINK (via Digital Music News)