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Music downloads boost profits for EMI

By Derek Sooman

On November 19, 2005, 5:46 AM

EMI Music has announced a 4.2 per cent growth in turnover - a growth in sales for the first time in five years – which the company attributes to the sale of music downloads. Sales of digital music are now estimated to account for nearly five per cent of total sales at EMI Music. The company has reported a 142 per cent jump in what it labels "digital revenue" to £44.6m.

EMI Music also said that it is continuing its initiative with other music labels to create variable pricing schemes for online music.
Eric Nicoli, chairman of EMI Group, said at a press conference that he is confident of persuading Apple to change its flat-rate pricing policy on iTunes to what he called an "effective charging structure".

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