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Q1 Earnings Report Takeaways: Cost-Cutting Impacts, Subscription Growth & More
Music companies' Q1 earnings reports showed a few major trends, from cost-cutting impacts to subscription growth and more. Here are the highlights.
After all, even large, diversified businesses don’t always take a neat, linear path to consistent annual gains, and any single reporting period can contain oddities that skew the results favorably or unfavorably. Note that while most music companies, including the largest ones, have already issued earnings, there are a couple more to come: CTS Eventim will release some first-quarter figures on May 22 and Reservoir Media reports on May 28. Over at Universal Music Group (UMG), which embarked on a cost savings plan in early 2024, the company’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) margin was flat at 22.8%.
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