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Vivendi chief proclaims awesomeness of Universal Music Group

September 17, 2008 3:05 p.m. by Johnny Loftus
Does Jean Bernard Levy know something we don't? “I think [in] the music business, there is a strong likelihood that we are getting close to the lowest part of the cycle and we are extremely active in developing new business models, new sources of revenues," the chief executive of Vivendi tells the Financial Times today. He believes the company's Universal Music Group has emerged from the dark side of the music business, and will soon see strong revenue growth. Well, label blue chips Metallica did debut at #1 on the Billboard chart, so that's something. But it's hard to believe fully in the revenue sources Levy describes in the article, since so many of them are couched with phrases like "with potential to" and "possible future deals with." Amy Winehouse, another Universal artist, is close to the lowest part of the cycle, too. But no one's saying she's turned it around yet. [Financial Times]
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