“Universal Music Group saw sales drop 6.2% in the last quarter, parent company Vivendi disclosed yesterday. But that’s not as bad as it looks: Strip out the effect of currency fluctuations (chiefly, the rise of the U.S. dollar), and UMG’s revenues actually increased 1.1%,” Peter Kafka reports for AllThingsD.
“What happened? CD sales are still declining, of course. But Vivendi said the rise of digital music — that means you, Apple — is finally beginning to balance out some of the decline. Digital sales increased 33% in the first 9 months of the year, the company said,” Kafka reports.
Full article here.
Apple dominates the online music market, accounting for more than 70% of worldwide online digital music sales; it’s the largest legal music retailer in the world. Imagine how much better (even) UMG could have done if they’d abandon their quixotic quest to damage iTunes Store by withholding DRM-free music while colluding to offer it to every also-ran online music outfit on the planet.
Steve Jobs ought to lay down the law to these thieves if he’s really serious about wanting to remove DRM from music. Enough already.