{"id":85715,"date":"1999-12-31T00:30:00","date_gmt":"1999-12-30T13:30:00","guid":{"rendered":"http:\/\/smartoffice.com.au\/ipods-double-profits-for-warner-music\/"},"modified":"1999-12-31T00:30:00","modified_gmt":"1999-12-30T13:30:00","slug":"ipods-double-profits-for-warner-music","status":"publish","type":"post","link":"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/ipods-double-profits-for-warner-music\/","title":{"rendered":"iPod&#039;s Double Profits For Warner Music"},"content":{"rendered":"<p>Despite their concerns about music piracy, the recording industry is making a motza from digital downloads.<\/p>\n<p>The Warner Music Group almost doubled its first-quarter profits thanks to a Christmas Day downloading frenzy according to reports. The thing which will cheer recording industry execs more than their eggnog was that profits were up so much despite lower revenues.<\/font><\/p>\n<p><\/font><\/p>\n<p>Warner Music profits for the three months to December 31 rose to US$69 million, from US$36 million a year prior.<\/font><\/p>\n<p>&#8220;Our digital revenue was up dramatically year-on-year, especially after MP3 players went live on December 25,&#8221; Michael Fleischer, chief financial officer, told Reuters. Fleischer revealed that costs for the quarter fell 6 per cent from a year earlier to $900 million, while revenue from the company&#8217;s recorded music business fell 2 per cent to $920 million, and revenue from music publishing fell 15 per cent to $131 million. <\/font><\/p>\n<p>But the high margin digital music business more than made up any shortfall. With virtually no distribution costs digital sales rose to US$69 million (an amount equal to the company&#8217;s entire profit for the quarter). This was an increase of 30 per cent from the prior quarter and triple what the company sold in digital music a year earlier.<\/font><\/p>\n<p>The company said that sales spiked significantly on December 25th as new iPod (and other MP3 player) owners hit the Internet to top up their new toys. The <st1_country-region w_st=\"on\"><st1_place w_st=\"on\">US accounted for 70 per cent of Warner&#8217;s digital music sales.<\/font><\/p>\n<p>Digital revenues were almost equally split between song downloads ringtones, said Fleischer.<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite their concerns about music piracy, the recording industry is making a motza from digital downloads.<\/p>\n","protected":false},"author":59,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[28,658],"tags":[],"class_list":["post-85715","post","type-post","status-publish","format-gallery","hentry","category-archive","category-credit","post_format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>iPod&#039;s Double Profits For Warner Music - Smart Office<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/ipods-double-profits-for-warner-music\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"iPod&#039;s Double Profits For Warner Music - 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