Atlantic Records claims digital milestone
First major label to have such sales bring half of revenueLONDON -- Following full-year results for Warner Music Group that showed a 39% increase in digital revenue to $639 million, representing 18% of total revenue, the major's label Atlantic Records is claiming a milestone in digital music.
More than half of Atlantic's revenue in the U.S. is from digital products, making it the first major label to reach that proportion for digital, according to the New York Times. The label's artist roster includes Bloc Party, T.I., Estelle, Death Cab for Cutie and Led Zeppelin.
Although WMG's fourth-quarter results, issued Tuesday, did not break down figures for its labels, Atlantic's digital-sales revenue reportedly has reached 51% of total revenue.
"I think we've figured it out," Atlantic president Julie Greenwald told the Times. "It used to be that you could connect five dots and sell a million records. Now there are 20 dots you can connect to sell a million records."