Vivendi Reports UMG Revenues Rise 4.8%
November 10, 2016 at 3:15 AM (PT)
UNIVERSAL MUSIC GROUP parent company VIVENDI released financial info YESTERDAY (11/9) showing UMG revenues totalled eu3.623 million, up 4.8% compared to the first nine months of 2015. Income from operations was eu391 million, up 42.4% in comparison to the first nine months of 2015. EBITA was eu353 million, up 37.4% compared to the first nine months of 2015.
Recorded music revs were up 3.8%, attributed to growth in subscription and streaming revenues. UMG noted that increase more than offset the slide in download and physical sales.
Music publishing revenues were up 5.4%. The company reported the rise was driven by increasing subscription and streaming revenues. Merchandising and other revenues also rose, up 10.8%, based on strong touring activity.
UMG pointed to new releases from DRAKE, RIHANNA and ARIANA GRANDE, as well as continued sales from JUSTIN BIEBER and THE WEEKND as highlights for the period.