Mixed notes for EMI's fiscal first quarter

August 07, 2007 Music major EMI Group Plc. reported mixed revenue trends for its fiscal first quarter, with total revenue trending down driven by recorded music declines, but digital music sales looking better. The company, which said last week that its acquisition by private-equity firm Terra Firma has become unconditional, added that early revenue indications from its launch of DRM-free online music offerings on Apple Inc.'s iTunes in late May are "encouraging." EMI said total revenue at constant currency declined 5.1% in its fiscal first quarter year-over-year, "reflecting the tough market conditions experienced in the recorded music market."

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