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Grainge; Reason to smile.

UMG REVENUE UP 2.7% IN 2015

Growth in subscription and ad-supported streaming revenues more than offset declines in physical products and digital downloads for Lucian Grainge's Universal Music Group in 2015.

UMG's worldwide revenues were up 2.7% to $5.66 billion at constant currency, parent company Vivendi reported today. Recorded music revenues were up 2.4% to $4.56b, music publishing was up 3% to $839m and  "merchandising and other" spiked 3.5%  to $306m. Cash flow was up 33% to $629m.

UMG saw a 43% growth in subscription and ad-supported streaming revenues. Downloads' share of revenue dropped to 18% from 24% while physical products fell four percentage points to 38%.

In announcing the results Vivendi reported that it “continues to see a positive momentum in the business, driven by ongoing growth in streaming and subscription and tempered by declines in download and physical sales, leading to a reasonable increase in results this year and enhanced results from 2017 onwards.”

The report singled out the success of  Taylor Swift’s1989 and Justin Bieber’s Purpose in the U.S., James Bay and Hozier’s “Take Me to Church” in the U.K. and Helene Fischer in Germany.

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