UMG'S $4.5 BILLION
FIRST-HALF HAUL

Universal Music Group topped $4.5b in revenues in the first half of the year, a 17.3% spike over 2020 at constant currency.

Recorded-music revenues grew by 20% to $3.71b, subscription and streaming revenues grew by 24.7% to $2.5b and physical sales hit $547m, up 40.1%. For the first half of 2021, UMG’s EBITA was $890m, up 37.7%.

Streaming now represents nearly 82% of the company’s revenue.

Music-publishing revenues of $666m were up 3.9% at constant currency and perimeter compared to the first half of 2020, driven by increased subscription and streaming revenues. Merchandising and other revenues of $163 were up 22.2% at constant currency and perimeter.

UMG pulled in $2.4b in the three-month period ending 6/30.

UMG will be listed on Euronext Amsterdam on 9/21. Vivendi will sell 60% of the company, retaining 10% of UMG. Vivendi continues to work on a potential deal to sell between 5% and 10% to Bill Ackman’s Pershing Square by 9/14.

“Everything is proceeding according to plan,” Arnaud de Puyfontaine, CEO and Chairman of Vivendi’s management board, told analysts on Wednesday.

Vivendi will release its Q3 results on 10/21, at which point the initial effect of UMG's sale will be revealed.

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