Universal Music Group N.V. Reports Financial Results for the First Quarter Ended March 31, 2024 - Universal Music Group (OTC:UNVGY)
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4 Articles
Universal Music Group N.V. Reports Financial Results for the First Quarter Ended March 31, 2024 - Universal Music Group (OTC:UNVGY)
Q1 2024 Results Highlights1 Revenue of €2,594 million increased 5.8% year-over-year, or 7.9% in constant currency, driven by solid growth in all segments. Recorded Music subscription revenue grew 10.7% year-over-year, or 12.5% in constant currency, and streaming revenue grew 8.9% year-over-year, or 10.3% in constant currency. Music Publishing revenue grew 16.7% year-over-year, or 18.4% in constant currency. Adjusted EBITDA of €591 million incre…
TikTok and Universal Music Group strike deal to bring back the music
TikTok and Universal Music Group have struck a “new multi-dimensional licensing agreement” that will see music from the label’s vast catalogue return to the video app. This ends a three-month stand-off, during which the music of many of the world’s largest artists, including Drake, Olivia Rodrigo, and the Weeknd, was unavailable on the platform. In a joint statement released overnight, UMG and TikTok said they “are now working expeditiously to …
Universal Music Group (UMG), one of the leading companies in the world of musical entertainment, and TikTok have reached an agreement on the payment of rights that would allow songs by artists such as Lady Gaga or Taylor Switf to be heard again on that social network. In a statement, UMG announced this new “multidimensional license agreement that will provide significant benefits” to both companies and “will return their music to the global co…
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