German media giant Bertelsmann saw year-on-year revenue fall 3.9 percent to 4.2 billion euros in the first quarter of 2008 - due to negative foreign exchange effects, the strong euro against the dollar and pound and a decline in physical music sales from its Direct Group book, DVD and music club in the US. Bertelsmann slimmed a 117 million euro loss from the same period in ‘07 to a three million loss this time, and expects a “moderate rise” in full 2008 revenues “due to fewer special items”. In other words, thank god it’s not still getting walloped by payments to record labels aggrieved by its former Napster (NSDQ: NAPS) unit. Figures.

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