Digital music partnerships not paying off?

The Warner Music Group’s first-quarter earnings released this morning provided some bad news for digital start-ups. The major posted a net loss of $68 million, a number that was close to double its loss of $37 million a year ago. The culprit: A one-time charge of $29 million related to the company’s investments in digital services Imeem and Lala.

“We do not intend to make more digital venture capital investments,” Music Group Chief Executive Edgar Bronfman said in this morning’s conference call, as quoted by PaidContent. “The intention was to (invest in) young companies…

continue reading from source by Todd Martens

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