Warner Music sees large growth digital music revenue

February 15, 2006

first quarter earnings rose sharply mostly from growth in digital music sales offsetting falling sales. Warner Music sells digital music to several online services including Apple's at wholesale. The company's first-quarter revenue from digital music sales doubled to US$69 million, accounting for 7% of overall revenue. Madonna,, and are signed to subsidiary labels of Warner.

Warner Music has undergone restructuring after being sold in 2004 by former parent company. Cutting costs, exploiting current assets, and digital music has been the company's focus since going public in May.