Universal Music Group’s (UMG) revenues totalled €3.623 million, up 4.8% at constant currency compared to the first nine months of 2015.
Recorded music revenues rose 3.8% at constant currency due to growth in subscription and streaming revenues (+64.3%), more than offsetting the decline in download and physical sales.
Music publishing revenues increased 5.4% at constant currency; a rise also driven by increasing subscription and streaming revenues, as well as growth in synchronization and performance income. Merchandising and other revenues were up 10.8% at constant currency on account of stronger touring activity.
Meanwhile, recorded music best sellers in the first nine months of 2016 included new releases from Drake, Rihanna and Ariana Grande, as well as carryover sales from Justin Bieber and The Weeknd.
UMG’s income from operations amounted to €391 million, up 42.4% at constant currency in comparison to the first nine months of 2015. The firm’s EBITA amounted to €353 million, up 37.4% at constant currency compared to the first nine months of 2015 (+36.1% on an actual basis). This included legal settlement income and restructuring charges in the first nine months of 2016 and 2015.
