Entertainment

Warner Music Profits and the Sky Are Down, Digital Sales and Pigs Are Up

As much we like to joke about the new music economy stripping rappers of their fourth Bentley and downgrading their 60-inch plasmas to 42-inchers, Warner Music actually did take a hard beating this past quarter, losing almost $US7 million in profit versus last year’s—more than half, for a take of $US5 million. While profits were down, digital sales shot up 25 percent to pull in $US130 million, though that didn’t particularly mollify the industry-wide 14 percent plunge in CD sales this year. Raise your hand if you’re shocked, shocked.