UMG REIGNS O'ER Q1

Universal Music Group saw double-digit percentage growth in revenue in all segments during the first quarter, pulling in €2.2b ($2.31b), a 21.6% spike over 2021’s Q1.

Recorded-music revenues for the first quarter were €1.72b. Subscription and streaming revenue grew nearly 20% year-over-year, with subscription revenue of €900m up 18.3%. Ad-supported streaming revenue of €309m was up 25.1%.

Physical revenue of €237m increased 11.3% on improvements to both CD and vinyl sales, led by King & Prince, Fujii Kaze, Ado, Stromae and Taylor Swift.

“As important as the positive performance of the business this quarter is its breadth and strength,” said UMG Chairman/CEO Sir Lucian Grainge. “Our strategic portfolio approach—creatively, geographically, technologically and across a broad range of artists, partners, formats, businesses and revenue streams—not only delivers results now but, over the long run, we believe will produce an even better and more stable performance while providing incredible value to our artists and shareholders.”

License and other revenue improved 14.4% as a result of improvements to sync revenue.

Publishing revenue amounted to €375m in the quarter, up 38.4%.

Merch and other revenue grew to €107m, up 81.4% over ’21.