As if we need anymore evidence that digital music is the future. Cos it is! Well, actually today Warner Music (spun out from Time Warner a while ago) announced a near doubling of their quarterly profits thanks to a tripling of digital music sales.
Digital music sales now account for over 7% of their total sales. Overall their revenues were a little down which still proves that they should be selling a whole load more digital songs cos analogue sales just keep sinking.
And of course the fact that Warner Music is now making loads of money will be another shot to the head for poor old Dick Parsons, CEO of Time Warner, who presided over their sale when it was evident things were no longer rosy at the music group. Would you have spun this one off Mr Icahn?
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