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Last Updated: Thursday, 20 April 2006, 09:37 GMT 10:37 UK
EMI sees download sales jump 150%
Chris Martin of Coldplay
Coldplay is one of EMI's biggest bands
Record company EMI has seen its revenues from digital music downloads increase by 150% over the past year.

The world's third largest record company predicted that the jump would help its annual profits rise by 12%.

EMI added that overall turnover should rise by approximately 4%, led by strong sales from its key acts including Coldplay, Gorillaz and Robbie Williams.

Digital music sales now account for 5.5% of the music division's annual revenues, EMI said.

Looking ahead, it said it was targeting an extra 30m in cost cutting.

'International superstars'

"Overall, the group expects to report full year revenue growth of close to 4%, with digital revenues more than doubling to over 110m," the company said in a trading statement.

"This strong divisional performance reflects successful releases from a broad range of artists including international superstars Coldplay, Gorillaz, Robbie Williams and The Rolling Stones...and breaking artists KT Tunstall, Dem Franchize Boyz and Corinne Bailey Rae."

Revenues at its publishing arm are expected to grow 2.5%.


SEE ALSO:
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23 Nov 05 |  Business
EMI on track for strong profits
17 Oct 05 |  Business
Album delays hit profits at EMI
24 May 05 |  Business
EMI shares hit by profit warning
07 Feb 05 |  Business
Warner bidding battle nears climax
21 Nov 03 |  Business


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