Billie Eilish, Drake Help Universal Music Earnings Rise in First Report Since Spinoff

  • 📰 THR
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

Billie Eilish, Drake Help Universal Music Earnings Rise in First Report Since Spin-Off

Shoots at 3 a.m., Drunken Merrymakers and Inspiration From Quentin Tarantino: How Edgar Wright Made 'Last Night in Soho' in London's Busiest Neighborhood

Revenue for the third quarter rose 16.1 percent to 2.15 billion euros , or 17.4 percent when assuming constant currency exchange rates as the firm’s recorded music, music publishing and “merchandising and other” segments all contributed to the improvement. ubscription and streaming revenue grew 14.0 percent, or 15.2 percent in constant currency and physical revenue grew 8.9 percent, or 11.6 percent, “driven by strong vinyl demand as well as growth in direct-to-consumer sales.” UMG also noted that other digital revenue fell 4.7 percent, or 3.5 percent in constant currency, “as the global decline in downloads continues.”

“Our operational and financial performance this quarter – our first as an independent, publicly-traded company – demonstrates both why UMG is the world’s most successful music company, as well as how our commitment to artists’ career development and fostering innovation promotes growth across the music ecosystem,” said Grainge.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

We are still fighting, and continuing to hope for justice, and continue to ask for help in getting to a place of safety and opportunity. Since my last update, we continue to live in an abusive home justice4noahisaacandamandagarcia

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 411. in BUSİNESS

Business Business Latest News, Business Business Headlines