UMG POSTS Q1 GAIN
Growth in subscription and streaming revenues pushed Universal Music Group’s Q1 revenue to $1.278 billion, up 0.6% at constant currency compared to the first quarter of 2015.
Recorded music revenues grew 0.5% at constant currency thanks to subscription and streaming revenues rising nearly 60%. UMG’s income from operations was $116.5m, up 18.6% at constant currency over 2015.
The company attributed the rise to a more robust schedule of album and single releases in the quarter and the carryover success of Justin Bieber and The Weeknd.
Music publishing revenue grew 0.3% at constant currency, while merchandising and other revenues declined by 6.9% at constant currency due to lower touring activity.
UMG’s EBITA was $90.3m, down a mere 0.2% at constant currency. Higher revenues and cost savings were offset by increased restructuring charges. Parent company Vivendi served the numbers on a baguette with a round of Camembert that was bit runny for some American tastes.
VMAs BEAMING BACK
TO THE BIG APPLE Getting back to where they once belonged (4/24a)
THE COUNT: ALL THE DESERT'S A STAGE
Jon Wayne is rolling over in his grave. (4/24a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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A CHORUS OF PRAISE: IVORS 2024 NOMS
