Universal Music Group, Sony Music Entertainment and Warner...
Universal Music Group, Sony Music Entertainment and Warner Music Group will see increased leverage with digital music providers after industry consolidation and an increase in competition among digital service providers, Moody’s Investors Service said Tuesday, announcing its report “Global Music…
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Industry: Consolidation to Three Major Label Groups Should Fuel US Digital EBITDA Growth” (http://bit.ly/19222Eh). “Following this latest round of industry consolidation, the three remaining major label groups have increased scale, expanded their respective rosters of top-selling artists and increased their holdings of valuable recording and publishing copyrights,” said Moody’s Vice President Gregory Fraser in a statement. However, “the benefits to the three major labels outlined are largely conditional upon the success of Universal, Sony and Warner to negotiate royalty rates that allow them to earn a respectable return on their investment in Artists & Repertoire and certain high-priced acquisitions,” he continued. Moody’s predicts digital music sales will be more than $6 billion in 2013, according to the release.