Universal Music Group Reports FY Results

Universal Music Group has announced its financial results for the fiscal year, showcasing substantial growth over the past year.

Revenue Growth

For the fiscal year, the company reported impressive revenue of €11,834 million, which reflects a year-over-year increase of 6.5%. When adjusted for constant currency, the growth stands at 7.6%. This growth has been fueled by positive performance across all segments of the business.

Segment Performance

The recorded music division saw a notable rise in subscription revenue, which grew by 8.2% year-over-year. In constant currency terms, this increase is 9.1%. However, there was a minor decline in streaming revenue, which fell by 0.8% compared to the previous year. In constant currency, streaming revenue showed a slight increase of 0.1%.

Overall Outlook

Universal Music Group continues to leverage its diverse portfolio and strong market presence to navigate the evolving landscape of the music industry.

music, revenue, growth