Universal Music Group Reports Double-Digit Revenue Growth

Financial Filings

As part of parent company VIVENDI's financial report, UNIVERSAL MUSIC GROUP noted revenues amounted to €2,666 million, up 14.0%, "at constant currency and perimeter compared to the first half of 2016 (+15.2% on an actual basis), driven by growth across all divisions." 

Recorded music revenues grew by 15.6% at constant currency and perimeter as growth in subscription and streaming revenues (+45.1%) more than offset the continued decline in both download and physical sales. Music publishing revenues grew by 9.2% at constant currency and perimeter also driven by growth in subscription and streaming revenues, as well as growth in synchronization and performance revenues. Merchandising and other revenues were up 2.2% at constant currency and perimeter, driven by stronger retail sales.

UMG’s income from operations amounted to €311 million, up 40.8% at constant currency and perimeter compared to the first half of 2016 (+43.3% on an actual basis) as a result of higher revenues. UMG’s EBITA amounted to €286 million, up 58.4% at constant currency and perimeter compared to the first half of 2016 (+61.6% on an actual basis). EBITA included lower restructuring charges compared to the first half of 2016.

« see more Net News