Looks like Sony isn’t the only one who experienced a poor fourth quarter this year. DigitalMusicNews.com reports that Warner Music Group’s fourth quarter revenue experienced a 13 percent slip to $752 million, while full-year revenues dropped 7 percent to $2.98 billion. This marks the 8th straight quarterly loss for WMG. Music publishing revenue also took a hit, dropping 13% to $142 million. And while gaining 7% to $197 million, digital sales only account for 26% of broader revenue total.
This news certainly doesn’t look good for WMG at the moment. Rumors back in January were spreading that either WMG was possibly being sold or was in the midst of purchasing label rival EMI. However, after seeing these loses, and since EMI has just been taken over by Citigroup, the former rumor might not be so hard to imagine happening. However, if Warner were to purchase EMI at a fire sale price, it could make Warner’s whole portfolio look all the better to possible buyers/investors.
