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Universal Music Posts $3.2 Billion Revenue in Second Quarter, Publishing up 10% as Streaming Revenue Dips
Universal Music Group posted $3.2 billion in revenue in a mixed quarter that saw solid growth but a dip in streaming revenue.
Recorded music top sellers included Taylor Swift, Billie Eilish, Seventeen and Morgan Wallen. UMG chairman-CEO Lucian Grainge said, “Our continued strong revenue growth this quarter demonstrates that we are, by design, a multifaceted music entertainment company that places our artists at the center of everything we do. Our unique structure, which is both innovative and constantly evolving, enables us to support our recording artists and songwriters with an ever-expanding array of revenue sources, reinforced by new products and the exciting next phase of development of streaming services.”
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