Sony BMG Loses $57 Million During Second Quarter 2008
Sony BMG has recorded losses of $57 million during the recent, fiscal second quarter. The figure shows a major decline from the same period last year, which logged in at $8 million. Revenues at the label group dropped 11% to $762 million for the period ending September 30th. The free fall was blamed on “the continued decline in the worldwide physical music market,” which is “not being offset by growth in digital...
Wal-Mart Flexes Music Muscle – AC/DC Deal Moves 780,000 – Popular Downloads Now 74 Cents
Just in time for the silly season, Wal-Mart is flexing some serious music muscle in an industry that is basically knocked out on its feet. This past week, AC/DC sold more than 780,000 copies its first new album in over 10 years Black Ice. The exclusive retailer deal, with a substantial marketing rollout by both Wal-Mart and Columbia Records, demonstrated the retailers clout with consumers. In addition, Wal-mart relaunched their...
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