As Universal Music Group prepares for its public listing next month, the company has been talking to analysts about its plans and anticipated growth. Reuters has a report from UMG’s capital markets day yesterday, including its predictions for 2021.
According to the major label, it expects its 2021 revenues to grow by more than 10% at constant currencies, while its earnings before interest, taxes, depreciation and amortisation (ebitda, a profitability metric) will grow by more than 20%.
As Reuters points out, the revenue growth compares to 4.7% in 2020. UMG also said that it is planning to pay out half of its profits as dividends to shareholders in the future. “I believe that we’re at the beginning of a new cycle, a new wave of growth,” said chairman and CEO Sir Lucian Grainge.
Which may only increase calls from the artists sector for UMG to follow Sony Music in routing a portion of these revenues towards musicians whose contracts have seen them earn little from the streaming boom fuelling UMG’s growth…
Tools: platforms to help you reach new audiences
Tools :: Wyng
Through Music Ally’s internal marketing campaign tracking, we’ve recently discovered an interesting website by the…