Universal Music Group’s revenues grew 9.4% at constant currency in the first quarter of 2021 to €1.81b ($2.17b).
Recorded music revenues grew by 10.8% at constant currency and perimeter thanks to the growth in subscription and streaming revenues (+19.6%). Physical sales were up 14.8% compared to the first quarter of 2020.
Subscriptions and streaming revenues surpassed €1b, a 19.6% spike over 2020. Olivia Rodrigo’s “drivers license” and Justin Bieber’s “Peaches” were singled out as particulalry strong streamers.
Music publishing revenues grew by 6.9% at constant currency and perimeter compared to the first quarter of 2020, driven by increased subscription and streaming revenues.
Parent company Vivendi has moved up its plan to spin off a chunk of UMG, eyeing the fall instead of early 2022. Shareholders will get their chance on 6/22 to weigh in on an exceptional distribution of Universal Music shares.
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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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