Excellent news from Vivendi.

It's very simple. Music may be cheaper but the trick is to persuade consumers to buy, not steal it - and to give them a genuine and not moral reason to do so.

For the first nine months of the year the pictures is not so good:

"For the first nine months of 2011, revenues stood at €2,842 million, a 2.9% decrease compared to the same period in 2010 (-1.1% at constant currency). The 11.3% increase in digital recorded music sales (+13.9% at constant currency) and higher license income only partly offset a lower demand for physical products.

UMG’s EBITA was €244 million, stable compared to the first nine months of 2010 (+1.6% at constant currency). Operating cost savings offset restructuring charges associated with the company’s reorganization plan."