UMG PERFORMANCE POWERS VIVENDI'S '16
Universal Music Group has become the crown jewel in Vivendi SA’s media empire, delivering an operating profit of $712m for 2016, an increase of 8.4% over 2015. It is UMG’s best performance since Vivendi bought the company in 2006.
Despite download income dropping $294m, the music distrib’s revenues rose 3.1% (4.4% in constant currency) to $5.83b. Recorded music revenue hit $4.63b for the year, led by sales and streams of 2016 releases from Drake, Rihanna, Ariana Grande and The Rolling Stones, plus carryover consumption of Justin Bieber’s latest.
Streaming revenue ($1.64b) topped physical music sales ($1.36b) for the first time ever. Streaming was up 55% from 215, physical was down 13.1%. Downloads brought in $835m, a dip of 26.1% from 2015.
Music publishing revenues grew 6.7% at constant currency, also driven by increased subscription and streaming revenues, the company reported.
The strong year contrasted with Vivendi’s TV operation, Canal Plus, which posted a 44% decline in profits.
THE MUSIC OF CLIVE COMES ALIVE AT CARNEGIE HALL
That's what friends are for. (5/1a)
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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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JAMES KING: THE HITS INTERVIEW (PART ONE)
