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Universal Music Group Revenue Up Nearly 9% on Taylor Swift Sales, Publishing and Merchandise Gains
Universal Music earnings in Q2 2024 show revenue was up on Taylor Swift, merch sales and gains in publishing despite a drop in streaming revenue.
Second, while Spotify, YouTube Music and “many regional and local platforms” have continued to show strong growth, some other subscription services “have been less successful in driving global adoption.” 1 on the Billboard Hot 100 this year, UMPG had songwriters n 13 of them, which CEO Lucian Grainge called “an extraordinary achievement.” Muir credited tours by Olivia Rodrigo, The Rolling Stones, Nicki Minaj, 21 Savage and Morgan Wallen for that growth.
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