Warner Music Group’s FY3Q06 earnings report backs up its rep as a music company that “gets” digital. Revenue from online hit $92 million, up 109 percent from $44 million in its third fiscal quarter last year. Perhaps more important, that represents 11 percent of the company’s total revenue and digital accounted for half of the year-over-year gain. Warner continues to have a larger digital presence domestically — 74 percent of digital revenue comes from the U.S.Although I've previously said Cordless is a flawed model of a digital record company, the parent company seems to be going in the right direction. I wonder what the breakdown for indies is? In some months, digital accounts for almost 50% of Blackout! music sales.
UPDATE- they still posted a loss though.