Warner Profits Tank; Recording Industry Hurting

“Warner Music Group, the world’s third-largest music company, on Thursday posted a fall in quarterly profit, hurt by an industry-wide slump in sales as more fans choose to buy songs online rather than physical albums… Sales of digital music at Warner were up 25 percent at $130 million during the quarter but this could not make up for the short-fall in CD sales.”

Writers, Producers Still Talking

“Striking screenwriters and Hollywood producers agreed to extend their renewed contract talks to a fourth day this evening, signaling at least some progress toward ending a work stoppage that began three and a half weeks ago.” However, there has been no breakthrough on the core issues that sparked the strike.