Good news for UMG and BMG

Having completed its acquisition of the EMI record company last autumn, sales at Universal Music shot up 16.3% year-on-year in the first half of 2013, from 1.92 billion euros to 2.24 billion euros, though the costs of integrating the former British major meant that profits were down. Earnings before interest, taxes, depreciation and amortization were 143 million euros, down from 156 million euros in the same period a year earlier. UMG said that continued sales of Rihanna's last album, the debut from US alt-rock band Imagine Dragons, the 'Les Misérables' movie soundtrack, and the new acoustic version of Justin Bieber's 'Believe' played a key role in generating mega-sales during the first half of the year. Meanwhile major releases from both Eminem and Lady Gaga should assure a successful second half of the year.

German media group Bertelsmann has reported operating profits for the first half of 2013 up 5.2%, an uplift very much aided by the firm taking full control of the BMG music company in April. As previously reported, Bertelsmann bought business partner KKR out of BMG earlier this year.