“Music revenues and market share are up at AOL Time Warner.” So Business2.com’s Eric Hellweg asks, “So why is the recording industry wasting so much time whining about online file swapping?” Great question!
“You have to dig deep to find the good news buried in AOL Time Warner’s (AOL) most recent quarterly results. With a $56 billion write-down — one of the largest in corporate history — dominating the headlines, the picture looks bleak. (Full disclosure: AOL Time Warner is the parent company of Business 2.0.) But sifting through the numbers reveals some interesting news: Warner Music Group actually saw a 5 percent increase in revenue for the quarter. Amid all the red ink, why is that noteworthy? If you read all the press releases issued lately by the recording industry, you’d think that online music swapping was killing the business. But the most recent filings by the five major labels actually look pretty healthy when compared with the general malaise that plagues so many tech companies these days.”
Click here for the full story.
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