Universal Music Q3 Subscription Revenue Growth Tops Expectations
Subscription streaming and physical sales lifted the company’s quarterly revenue, while Downtown Music Holdings added to reported growth.
- Universal Music Group reported third-quarter revenue of €3.39 billion, up 11.7% year over year and ahead of analyst estimates.
- Subscription streaming revenue rose 17.9% to €1.81 billion, supported in part by Downtown Music.
- Recorded music revenue increased 14.7% to €2.56 billion.
- Merchandise revenue fell 4.6% because of fewer major tours.
13 Articles
13 Articles
Universal Music Subscription Revenue Growth Shows Improvement
Universal Music Q3 subscription revenue growth tops expectations
Universal Music Group registered high in revenue in the third quarter, as subscriptions and streaming services gave signs of recovery. Exclusive material for subscribers. To have full access, access the link of the subject and register.
Universal Music Group Posts $3.78 Billion in Revenue For Q3, Signals Fight Against AI Slop
UMG CEO Lucian Grainge discussed the proliferation of AI music during the company's earnings call, calling for DSPs to pay out less for AI slop tracks than to genuine artists.
dagelijksestandaard.nl
HILVERSUM (ANP) - Universal Music Group (UMG), the world's largest music corporation, achieved higher revenue in the third quarter. The company, which represents artists such as Taylor Swift and Billie Eilish, benefited primarily from increased revenue from paid streaming subscriptions. Dez...
Coverage Details
Bias Distribution
- 56% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
