In the first six months, recorded music revenues of Universal Music group grew by 7.4% at constant currency. The growth can be attributed to subscription and streaming revenues which went up by 34.3% thereby balancing the continued decline in both download (-26.5%) and physical (-19.1%) sales.
Vivendi, the parent company of UMG,
released its financial report for the first half of 2018, including the particulars of Universal’s recorded music performance.
It is not surprising to see UMG’s recorded music financials dazzle in the first six months of 2018 on Spotify, Apple Music, YouTube and many other mediums considering eight of the most popular artists on interactive audio streaming platforms in the US were signed to Universal Music Group. According to Nielsen, they were Drake, Post Malone, XXXTentacion, Migos, J.Cole, Kendrick Lamar, The Weeknd and Kanye West.
Universal Music Group’s (UMG) revenues amounted to €2,628 million, up 6.8% at constant currency and perimeter compared to the first half of 2017 (-1.4% on an actual basis).
Recorded music best sellers for the first half of 2018 included new releases from Post Malone, Drake and Migos, as well as the soundtrack release from Black Panther.
In the first half of 2018, Universal’s labels generated €369m ($447m) from physical formats, down 19.1% year-on-year at constant currency. Half-year downloads sales also saw drop of 25.9% to €237m ($287m).
The company’s biggest sellers in the period, on a revenue-generating basis, were Post Malone, Kendrick Lamar, Drake, Migos and Imagine Dragons.
Including UMG’s music publishing operation and other activities, in the first half of 2018 group revenues rose 6.8% to €2.63bn ($3.18bn).
Universal Music Publishing (UMPG) had a particularly strong six-months, with first half revenues up 11.1% year-on-year to €409m ($495m). Total group EBITA profit stood at €326m ($395m) a jump of 23.5% year-on-year.