Universal Music Q3 Earnings: Subscription Streaming, Downtown Integration Pay Off
Developing story first seen 1 hour ago
UMG’s third-quarter results show Downtown Music Group contributing to subscription growth sooner than expected: the acquired businesses accounted for 9.5% of the increase in subscription streaming revenue. Overall revenue rose 11.7%, while revenue excluding Downtown grew 5.3%, highlighting the acquisition’s role in the company’s latest performance.
Revenue reached €3.39 billion, including €1.81 billion from subscription streaming, up 17.9% year on year. Adjusted EBITDA rose 9% in constant currency to €729 million, and its margin was 21.5%; recorded music revenue grew 14.7%, while merchandise revenue fell 4.6%. UMG said its cost-cutting plan aims to deliver €250 million in annual savings by the end of 2026.
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In short
- Downtown contributed to 9.5% of subscription streaming revenue growth.
- UMG revenue rose 11.7% to €3.39 billion.
- Cost cuts aim to save €250 million annually by end-2026.
How this story developed
- 6 minutes ago Universal Music Group (UMG) reported third-quarter revenue growth of 11.7%, citing faster subscription streaming growth, improved margins and its integration of Downtown Music Group.
- 10 minutes ago UMG’s third-quarter results show Downtown Music Group contributing to subscription growth sooner than expected: the acquired businesses accounted for 9.5% of the increase in subscription streaming revenue.
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