Tokyo-based label Columbia Music Entertainment on Nov. 17 announced a consolidated net profit of ¥78 million ($654,802) for the April 1-Sept. 30 first half. In the same period last year, the company reported net profit of ¥8 million ($75,800).
Contributing to the improved figures were digital sales — which CME says expanded faster than the industry average during the first half – plus the company’s distribution of product from independent labels such as R and C Ltd. and Dreamusic.
First-half consolidated sales were ¥16.2 billion ($135.8 million), up 9.7%.
“CME’s business performance during the fiscal half year under review was marked by sustained progress,” the company said in a statement. “We continued to pursue thoroughgoing cost management in our in-house title production, while keeping to production schedules and maximizing the cost-effectiveness of advertising and publicity expenditure.
Top-selling acts for the label (formerly known as Nippon Columbia) in the first half included vocalists Jiro Kanmuri and Kiyoshi Hikawa.
