Universal is making over $6m a day from streaming

NEWS 0
Universal streaming revenues soar 45% to top $1bn in H1 2017
Universal Music Group’s labels generated €962m ($1.1bn) in revenues from streaming in the first half of 2017.

That’s a jump of 45.1% year-on-year (at constant currency/perimeter), and the equivalent of approximately $44m every week, or over $6m every day.

Sales from downloads fell 18% year-on-year to €353m ($420m) in the six months, while physical recorded music revenues dipped by a tiny 1.8% to €484m ($575m).

Overall, UMG’s global recorded music business saw sales rise 15.6% in Jan-June 2017, to€2.14bn ($2.5bn).

Including UMG’s music publishing operation and other activities, total half-year group revenues rose 14% to €2.67bn ($3.2bn).

Total H1 group EBITA profit stood at €286m ($340m) – a jump of 58.4% year-on-year.(MBW)
About 3518 Articles
Anissa Sutton, founder of Pump It Up Magazine, is a visionary singer, performer, and industry leader. Through her magazine and KPIU RADIO, she empowers individuals in entertainment, lifestyle, and humanitarian fields by offering resources, advice, and a platform for showcasing talent. Discover how Anissa is helping artists and entrepreneurs reach their full potential with the guidance and support they need to succeed
Website Facebook Instagram Twitter YouTube

Related Articles