Universal Music Group’s parent company Vivendi posted its first-quarter revenue on Monday. Q1 sales jumped 10.7 percent from last year to 3.46 billion euros ($3.91 billion), boosted by UMG’s growth and Vivendi’s recent acquisition of the Editis publishing business.
Revenue rose 5.7 percent on a constant currency basis to 3.46 billion euros ($3.91 billion) from 3.12 billion euros a year ago.
Although physical sales have declined globally, UMG’s physical sales grew by 20.8% year-on-year in Q1, up to €193 million ($219 million).
€737 million ($837 million) of UMG’s revenue was generated by streaming. As such, streaming made up 61% of UMG’s overall recorded music revenues in the quarter.
Universal Music Group’s overall Q1 revenues including recorded music, publishing etc. rose 18.8% year-on-year to €1.502 billion ($1.7 billion), making up for 43.4% of Vivendi’s total sales in the quarter, which reached €3.459billion. Looking at the start UMG has had in the current financial year, it looks set to top last years $7.1 billion revenue.
Universal’s biggest revenue-generating artists in Q1 were Ariana Grande, the A Star Is Born soundtrack, Japanese power rock band Back Number, Queen and Billie Eilish.
Vivendi has also mentioned that it was making progress on the planned sale of up to 50 percent of UMG.