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Universal Music Group Posts Strong Revenue for First Quarter, Although Streaming Growth Continues to Level Off
Universal Music Group posted strong revenue for the first quarter of 2025, although streaming's growth continues to level off.
Top sellers included Kendrick Lamar, Sabrina Carpenter, Lady Gaga, the Weeknd and Japan group Mrs. Green Apple, while top sellers from 2024 included releases from Taylor Swift, Noah Kahan, Morgan Wallen, Ariana Grande and Olivia Rodrigo. Excluding non-cash share-based compensation expenses, Adjusted EBITDA for the quarter was €661 million, up 11.8% year-over-year, or 10.0% in constant currency, driven by revenue growth. Performance revenue was flat year-over-year, but declined 1.7% in constant currency, with a difficult comparison against higher society payments in the U.S. and stronger live activity in Europe in the prior year quarter.
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