Warner Music Group's Quarterly Loss Narrows

NEW You are able to - Warner Group on Thursday reported a simplified loss because of its latest quarter. Losing $46 million for which is the organization's fiscal third quarter, in comparison to some lack of $55 million around-ago period. Funds with LimeWire increased the most recent figure by $12 million, while $5 million in costs associated with a purchase of the organization and severance charges of $tens of millions of were a continue it. Revenue in the music major, that was lately taken private by Len Blavatnik's Access Industries, rose 6 percent to $686 million. But presuming constant foreign currencies, revenue rejected 1 %. Top retailers in recorded music for that quarter incorporated Bruno Mars, Superfly, Wiz Khalifa, Hugh Laurie and Cee Lo Eco-friendly. Digital revenue of $203 million came to 30 % of total revenue. U.S. recorded music digital revenue increased to $108 million, or 47.6 percent of total domestic recorded music revenue, in comparison with 40.9 percent within the prior-year period Stated WMG Boss Edgar Bronfman Junior.: "We're approaching the stage where nearly all our U.S. recorded music business is going to be digital while ongoing to change our method of artist signings using more than 60% from the artists on our active global recorded music roster being signed to handles an extensive suite of broadened privileges." Email: Georg.Szalai@thr.com Twitter: @georgszalai Related Subjects Warner Group