25. Warner Music
U.S. 2010 digital revenue: $440 million
Snapshot: The company is the second-biggest seller of digital music, after Universal Music. But while digital’s share of Warner Music’s overall revenue grew in 2010, its digital gains slowed significantly in part because of the slow-down in the growth of the overall digital music industry, as well as a drop in ringtone sales.
Key digital move in 2010: Unlike rivals Universal Music and EMI, Warner Music did not agree to put its videos on Vevo, the music-video joint venture with Google and Abu Dhabi Media. But the company did announce some high-profile partnerships with other companies, including an ad-sales deal with MTV Networks and an agreement with Hulu to put some of its clips on that site.
How we generated our estimate: Warner Music’s overall digital revenue increased 8 percent to $759 million during the company’s fiscal year 2010. In the U.S., Warner Music said digital revenue from recorded music was $421 million. Warner Music did not say how much of its digital publishing revenue came from the U.S., but if it is consistent with the overall geographic breakdown of the company’s publishing revenue, it totaled about $22 million.