Warner boss sees rebound despite CD sales decline
Executive said on Monday the music company’s business was poised to rebound as it tapped new revenue streams to counter the decline in sales of traditional CDs. Warner Music, the only publicly listed major music company in the United States, has seen its share price decline as CD sales have fallen. People are increasingly buying music through online downloads rather than physical CDs and records. The company’s third-quarter earnings report, for the three months to June 30, showed a 2 percent revenue decline as growth in digital revenue failed to make up for declining CD sales. To counter this, the… Read more »
