Sony Music Woes Extend to Digital Sales
It seems SonyÂ’s problems extend further than just its consumer electronics and gaming divisions. On top of all the high-profile management problems the company has had, digital music sales are taking a beating as well.
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But in recent weeks, Sony’s woes have taken center stage, overshadowing at times the accomplishments of its stars. Last month, Sony Music reported a 22 percent decline in revenue from the previous year. In December, the Federal Trade Commission fined the label $1 million for collecting information on 30,000 children without obtaining parental consent. The New York Times recently reported CEO Rolf Schmidt-Holtz was steamrolled in negotiations with Apple’s Steve Jobs. |