Piracy blamed for Universal profits fall

THE record company behind U2 and Jedward has blamed piracy and illegal downloading for a fall in profits at its Irish operations.

Piracy blamed for Universal profits fall
Sat, 22 Oct, 2011 - 01:00
Niamh Hennessy

According to accounts filed for Universal Music Ireland Ltd pre-tax profits dropped from €2.5 million to €1.9m last year.

The company made €10.3m from the sale of CDs, down from €11.2m the previous year.

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