EMI Group did a trading update today, and is forecasting a 15 percent contraction in revenues from its recorded music division. Meanwhile, digital revenues had increased by 59 percent and currently represents about 10 percent of its revenue.
EMI Music Publishing, typically the group’s most consistently-buoyant division, is likely to register “broadly flat” revenue at constant currency, underpinned by a 28 percent rise in digital revenue. Digital formats now generate 8 percent of the publishing division’s sales.
More details in release here.