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Warner Music profit drops, blamed on digital shift

News Type: Event — Seeded on Thu Nov 29, 2007 4:56 PM EST
Read ArticleArticle Source: MacNN | The Macintosh News Network
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Seeded by Michael Sautter
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Warner Music Group on Thursday reported a major drop in profits for its last financial quarter that it largely attributes to online music. Although the company noted that its purely download-based music income increased by 25 percent to $130 million, the company's overall profit dropped about 58 percent and resulted in just $5 million versus $12 million the year before.

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