Britain's EMI Group said today strong sales of the latest albums from Coldplay, Gorillaz and the Rolling Stones left it set to meet its full-year forecasts, as it posted an expected 9 per cent rise in first-half profit.
Robbie Williams' latest offering, Intensive Care, released in late October, has already sold 3.5 million copies, said the world's third-largest music company, which also has new releases from Kate Bush, Depeche Mode and the Beastie Boys.
EMI made £41 million (€60 million) in profit before tax in the six months to the end of September, on sales up 5.8 per cent at £925 million $1.37 billion.
EMI said the modest decline in global recorded music in its first half was due to rapid growth of digital music --downloads to computers and mobile phones.
The music industry has used a carrot-and-stick approach to reverse flagging music sales by promoting digital music services such as iTunes, Napster and Rhapsody while aggressively targeting illicit downloaders with lawsuits.
Digital accounted for 6 per cent of global music sales, or about $790 million, in the first half of 2005, according to data from the trade grouping International Federation of the Phonographic Industry (IFPI).
Despite the success of the market-leading iTunes service, Apple and the music labels may be heading for a showdown when licence agreements expire in the spring.
The labels are pushing for the ability to charge different rates for different songs, while Apple wants its flat-price model to be maintained.
Mr Alain Levy, chairman and chief executive of EMI Music, told reporters that people would not be surprised to start having to pay more for tracks from its global superstars, such as Coldplay.