EMI Music revenue shrinks by 15%

April 19, 2007 LONDON - Against a backdrop of "very challenging" market trends, EMI Group Plc. is forecasting a 15% contraction in revenue from its recorded music division. In a trading update delivered this morning to the London Stock Exchange, the British-based major also noted that it is eyeing-up a securitisation of its music publishing assets, and has suspended its dividend payments. Despite the harsh revenue forecast for EMI Music, the group said constant currency sales for its record division in the year to March 31 were in-line with guidance published in February.

Subscribe to the Hollywood Reporter and see the entertainment industry from its best angle: the inside looking out. Complete access to real-time news and exclusive analysis that goes behind the scenes from film to television, home video to digital media.

   Subscribe now.