You might check their most recent financial results, which were put out in May. They’re mentioned in this release from parent company Vivendi.

Key quotes:

* “Universal Music Group’s (UMG’s) revenues of €1,027 million declined 8.7% versus the same period last year …”

* “Digital sales of €161 million were up 54% versus last year in constant currency, representing 15.7% of total revenues versus 9.9% last year…”

* “UMG’s EBITA of €57 million was down €84 million from the first quarter of last year which included the recovery of a previously expensed cash deposit in the TVT matter of €50 million. …”

Now I’m no math expert but it seems to me online is the only part of the business that’s growing, and it’s still not enough to compensate for the decline in CD sales. As for profits, again, I’m no math expert, but this doesn’t look like a pretty picture.