hope it wasn't posted before
http://www.guardian.co.uk/business/2008/jan/31/2
Universal, the world's biggest music company, suffered falling revenues last year despite fast growth in digital download sales and album success for Amy *Winehouse and Mika.
The record labels and music publishing business owned by French media conglomerate Vivendi said it increased market share in 2007 but revenues were down 1.7% to €4.9bn (£3.6bn) as the wider music industry continued to suffer.
Once the group's acquisition of BMG Music Publishing and UK music group and merchandising business Sanctuary were taken into account revenues were up 3% on a constant currency basis. Without those new additions, revenues were down 3%, partly "reflecting a difficult music *market".
The fourth quarter taken alone was particularly tough, with revenues down 5%, excluding the acquisitions. The drop off in revenues came despite last year's strong release schedule.
The record industry has been battling rampant piracy and looking for new ways to reach consumers who have grown used to paying little or nothing for music. While legal downloads have been rising they have yet to make up for falling CD sales.
Figures released last week by music industry association IFPI showed global digital sales last year accounted for 15% of the entire market that was down by 10%