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What You Should Know About UMG’s Q2 Earnings: Uneven Streaming Growth, Facebook Licensing & More
A Universal Music Q2 earnings analysis highlights uneven streaming growth and more, including a lapsed licensing deal with Facebook for music videos.
Universal Music Group (UMG) got a boost from physical sales in the second quarter, but the conversation during Wednesday’s earnings call was mostly focused on streaming. After Spotify began offering both music and audiobooks, the company asserted it can pay a discounted “bundle” royalty rate to publishers and songwriters for premium streams. Rather than feeling cheated out of royalties, Muir said UMG “[is] confident our revenue participation reflects the value our artists and our music is bringing to their platform.”
Or read this on Billboard