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Last Updated: Tuesday, 23 May 2006, 07:26 GMT 08:26 UK
Download demand boosts EMI profit
Coldplay
Coldplay's latest album was 2005's biggest global seller
Strong demand for music downloads and successful albums from Coldplay and Gorillaz helped boost EMI profits.

The music group posted a 13% rise in pre-tax profits to 159.3m for the year to 31 March from 141.1m in 2005.

Digital music sales experienced the strongest growth, more than doubling to 112.1m from 46.9m last year.

Strong sales of Coldplay's X & Y album also gave the group a lift - the global bestseller of 2005 was also the biggest selling digital release in the US.

"EMI Music has significantly outperformed the industry, gaining market share in almost all territories including the US," EMI chairman Eric Nicoli said.

The group said improved digital sales - which have more than doubled industry-wide in the past year - had helped offset a fall in CD sales.

Artist appeal

EMI added its recorded music sales had "significantly outperformed" the global industry, partly as a result of the wide-ranging appeal of its artist roster.

In the past year, the group has released albums from artists as diverse as The Rolling Stones, Gorrillaz, Keith Urban and breaking acts Corinne Bailey Rae and KT Tunstall.

The results come just weeks after EMI's latest attempt to secure a takeover of rival Warner Music failed.

Warner Music, whose artists include Madonna, rejected a $4.2bn (2.2bn; 3.3bn euros) bid on 3 May.


SEE ALSO:
Warner Music throws out EMI bid
03 May 06 |  Business
EMI sees download sales jump 150%
20 Apr 06 |  Business
EMI develops literary soundtrack
16 Dec 05 |  Business
Beatles sue EMI in royalties row
16 Dec 05 |  Entertainment
EMI shares surge 10% on bid talk
23 Nov 05 |  Business
Coldplay and Gorillaz boost EMI
16 Nov 05 |  Business


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