Printer Friendly

EMI MUSIC ACHIEVES RECORD FIRST-HALF RESULTS

              EMI MUSIC ACHIEVES RECORD FIRST-HALF RESULTS
    NEW YORK, Nov. 19 /PRNewswire/ -- EMI Music today announced record


results for the first half of the 1991/92 financial year.
    For the six months ended Sept. 30, 1991, sales increased 1.5 percent from $825.1 million to $837.4 million, while profits increased 12 percent from $79.4 million to $88.9 million.  Both recorded music and music publishing achieved record profits.
    The success in recorded music was due to strong chart performance and continued productivity gains throughout the organization.  Chart hits were truly international in scope.  In North America, Garth Brooks dominated both Billboard's Pop and Country Albums charts.  His new release "Ropin' the Wind" entered both charts at Number One, an unprecedented accomplishment, while his two previous releases remained in the Top Forty of both charts throughout the period.
    Bonnie Raitt reached the Number Two position on the U.S. Pop Chart with "Luck of the Draw," the follow-up to her Grammy-winning "Nick of Time."  EMF and Jesus Jones topped the charts in the United Kingdom and North America, as they each exceeded 1 million in worldwide album sales. The Swedish duo Roxette continued its phenomenal success, reaching Number One in seven countries and spending 17 of 26 weeks as one of Europe's top three albums.
    EMI Music Publishing once again turned in record profits while strengthening its leadership position in the industry.  Recent awards include 1990 ASCAP (Pop and Country) and BMI (Pop) Music Publisher of the Year.
    Jim Fifield, president and chief executive officer of EMI Music, commented, "I am very pleased with the success achieved by EMI Music over the past six months.  These results, coming on top of last year's record performance, are particularly impressive in light of the generally sluggish worldwide music markets.  With our planned second- half releases, I am confident we will be able to maintain our momentum for the balance of the year."
    -0-                      11/19/91
    /CONTACT:  Yon Elvira of Susan Blond, Inc., 212-333-7728, for EMI Music/ CO:  EMI Music ST:  New York IN:  ENT SU:  ERN CK-GK -- NY062 -- 5017 11/19/91 14:08 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 19, 1991
Words:355
Previous Article:APPLIED INNOVATION, INC. ANNOUNCES HIGHER THIRD QUARTER EARNINGS
Next Article:CAMPBELL SOUP FORMS INDUSTRIAL PRODUCTS GROUP
Topics:


Related Articles
EMI MUSIC TO ACQUIRE OUTSTANDING 50 PERCENT OF CHRYSALIS RECORDS GROUP
MARTIN BANDIER APPOINTED CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF EMI MUSIC PUBLISHING
EMI MUSIC REPORTS RECORD RESULTS FOR THE FIFTH STRAIGHT YEAR WITH TOTAL PROFITS UP 57 PERCENT AND SALES UP 34 PERCENT
/C O R R E C T I O N -- EMI MUSIC/
EMI hits a bum note with half-year profits.
EMI strategy back on song for Christmas.
EMI gets back on track.
The Rolling Stones' Music Available in Legitimate Digital Format for First Time Via RealNetworks' Rhapsody and Best Buy Exclusive; With Exclusive...
EMI has top news for music industry.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters