Universal Music Group’s earnings for the first half of 2021 surged ahead of the music major’s planned September stock market debut, French media and telecom giant Vivendi said on Wednesday. Revenue…
Revenue for the first six months of the year rose 17.3 percent, compared with the same period of 2020, for the home of Taylor Swift and Lady Gaga to reach 3.83 billion euros when using constant currency exchange rates and assuming the same asset portfolio for both periods.
Recorded music revenues at UMG, led by CEO Lucian Grainge, grew by 20 percent as subscription and streaming revenue gained 24.7 percent and physical sales rebounded 40.1 percent. Music publishing revenue climbed 3.9 percent, “driven by increased subscription and streaming revenues,” said Vivendi, which is led by CEO Arnaud de Puyfontaine.
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