UMG posts 12% growth in revenues

Universal Music Group has announced positive results for 2013 with  revenues up 12.8% to 4.9 billion euros (£4 billion) year-on-year. The continued decline in physical music sales was offset by a growth in digital revenues, which accounted for over 50% of sales income for the first time. Meanwhile in the digital domain, subscription and streaming revenue also grew by more than 75% in 2013. The company said that its biggest sellers of last year were Eminem, Katy Perry, Imagine Dragons, Lady Gaga, Drake, Robin Thicke and French-language artist Stromae