EMI Group said today it expected a 3 per cent decline in first-half revenue after citing an album-release schedule weighted towards the second half of the year.
First-half underlying profit before tax is expected to fall 34 per cent to about £27 million. Full-year results are on track to meet expectations, the world's third-largest music company said.
The London-based company, home to artists such as Coldplay and Robbie Williams, said its recorded music division was on track for a 4 per cent decline in revenue in the six months ended September 30th on a constant currency basis.
Digital music represented about 9 per cent of its recorded music division's revenue, compared with 11 per cent for the global music industry.