November 12, 2009

By By Glenn Peoples, Nashville

Universal Music Group revenue fell nearly 12% (14% at constant currency) in the third quarter of 2009 and slipped 5% (8.4% at constant currency) through the first three quarters of 2009. Revenue was ?969 million ($1.4 billion) in Q3 and ?2.98 billion ($4.43 billion) through the first three quarters.

UMG?s revenue through the three quarters was 5.2% lower than the same period in 2008 and 8.8% lower than the same period in 2007. Its EBITDA through the first three quarters was 34% lower than 2008 and 47% lower than 2007.

Parent company Vivendi posted a 9.8% increase in revenue and a 10.3% increase in EBITDA through the first three quarters.

UMG?s EBITDA through Q3 was ?269 million ($400 million), a 34% drop compared to the same period last year. (During those nine months, UMG experienced ?49 million ($73 million) in reorganization costs.) Its digital sales rose 21%. Gains in merchandise and publishing were offset by drops in CD sales and licensing income.

In Q2 2009, UMG?s revenue dropped 1.7% to ?2.01 million ($3 million).

Read the Vivendi Q3 2009 earnings release here.

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