Strong streaming growth for UMG as Vivendi rules out IPO
Posted on: 31 juillet 2018, by : Stuart Dredge

Vivendi published its latest quarterly financial results yesterday, including figures for Universal Music Group. And UMG’s parent company also provided an update on its plans for the major label, which will now involve selling up to 50% of the company to one or more strategic partners, having ruled out an initial public offering (IPO).
Figures first: Universal Music Group’s overall revenues for the first half of the year actually shrunk slightly on an actual basis – down 1.4% to €2.63bn (around $3.08bn), although Vivendi preferred to stress the numbers based on constant currency and perimeter, which were more positive.
By that metric, UMG’s overall revenues grew by 6.8% year-on-year, with a 7.4% increase in recorded-music revenues to €2.12bn, an 11.1% rise in publishing revenues to €409m; and a 15.7% drop in merchandising and other income to €107m – the latter dip due to “lower touring and retail activity”. UMG recorded earnings before interest, taxes and amortisation of €326m, up 26% year-on-year.
The post Strong streaming growth for UMG as Vivendi rules out IPO appeared first on Music Ally.
Source: Music ally

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