Universal Music Group generated €1.5bn of revenues in Q1


Vivendi published its latest financial results yesterday, revealing that its Universal Music Group subsidiary generated just over €1.5bn of revenues (around $1.7bn) in the first quarter of 2019, representing growth of 18.8% year-on-year. That included 23.3% growth in recorded-music revenues to €1.21bn ($1.37bn) including €737m of income from subscriptions and streaming. That latter metric was up by 32.4% compared to the first quarter last year.

Meanwhile, UMG’s other digital revenues (i.e. download sales) fell by 14.1% to €104m, but its physical sales actually rose strongly, by 24.2%, to €193m. Call it the Queen / A Star Is Born effect if you like, at least in part.

Also notable: streaming and subscriptions were 61% of UMG’s recorded-music revenues in the first quarter of this year, compared to just under 57% a year ago. Publishing’s growth story was a little more restrained for Universal, however: its publishing revenues were up by 8.2% year-on-year to €225m.

Stuart Dredge

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