Universal Music’s parent company Vivendi published its latest financial results yesterday, including figures for UMG’s last full quarter before – if all goes to plan – it goes public. You can see all the data here in Vivendi’s investor presentation.
Overall, UMG’s revenues grew by 25.5% year-on-year in the second quarter of 2021 to €2.02bn (around $2.4bn), including a 29.7% spike in the company’s recorded music revenues to €1.65bn. Within that, revenue from subscriptions and streaming also grew by 29.7% to €1.12bn, and thus now accounts for more than two thirds of UMG’s recorded music income overall.
UMG also saw a Covid bounceback for physical sales: up 72.6% year-on-year, albeit to €250m. The growth for UMG’s publishing division was much shallower: up 1.2% to €293m year-on-year.
All this is a very good dataset to be taking to the public markets, although at the same time, it’s likely to raise a new round of ire from campaigners who have been targeting the business practices of the major labels.