In a gloomy industry where album sales are expected to decline in 2009 for the eighth time in nine years, Atlantic is a rare bright spot.
Under Greenwald's leadership, it was the first major label to announce that half its revenue came from digital sales, including ringtones and iTunes downloads. That's not industry-saving news on its own, but it's a way for Atlantic to keep profits rolling as album sales decline.
Atlantic, a division of Warner Music Group, is also known for pioneering the 360-model, a way for labels to collect a percentage of revenue from touring and merchandise amid falling album sales.
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