Thursday, 3 September 2015
Universal Music Group saw its recorded music revenues grow 15.2% in the first six months of 2015 fuelled by the boom in streaming income. Universal's recorded music operation (omitting publishing and merchandising) saw digital income above 50% of company revenues, outperforming physical sales and licensing combined. Revenues of €926m for digital music were up 7.3% year-on-year at constant currency and perimeter. UMG's revenue from physical sales was €573m, down 7.4% at constant currency/perimeter) and was licensing (€348m, up 16.4% on the same basis) UMG's recorded music operation totalled €1.85bn in the six-month period in total, up 15.2% on the €1.60bn achieved in H1 2014 in real terms - and up 3.6% at constant currency/perimeter. The groups combined revenues including merchandising and music publishing were €2.31bn in the first six months of 2015. The group revenues, boosted by the strong US dollar, were up more than €300m, or 15.4%, on the comparable figure from H1 in 2014.