Vivendi Universal, the parent company of Universal Music Group, announced a rise in their earnings for the third quarter, however the music company continued to face losses despite releases from artists such as Eminem, Nelly and Cam’ron.
Universal Music Group boasts an impressive roster of hip-hop artists that appear courtesy of labels such as Interscope, Def Jam, MCA, Motown and Universal.
Notwithstanding the almost 23 percent share of music globally that the company owns, the Associated Press reported earnings falling approximately 9 percent from the second quarter.
Coupled with the holiday season, the fourth quarter is traditionally reserved for releases by music heavyweights. Expect albums by Jay-Z, LL Cool J, Ja Rule, W.C., GZA, The Roots, 2Pac, Baby of The Big Tymers, a Cash Money greatest hits compilation, the 8 Mile soundtrack and Shaggy (Universal Music Group’s biggest selling act of 2001) to inject some life into the waning sales of the company.
