Universal Music Group Posts $3.12 Billion in Q3 2024 Revenue As Subscription Streaming’s Contribution Remains Flat
Universal Music Group head Lucian Grainge. Picture Credit: UMGIn the middle of continued streaming-plateau issues, Universal Music Group (UMG) has actually published its Q3 2024 financials-- total with flat taped music streaming membership profits and a minor ad-supported income enhancement. These and other intriguing efficiency information emerged in the leading label's just-released third-quarter profits report. As numerous will remember, UMG shares parted with over 20% of their worth in the wake of the Q2 report, relatively due to financier issues about a possible streaming plateau.Consequently, an expansion-minded Universal Music put out an aggressive streaming projection, anticipating an 8-10% yearly subscription-revenue growth on the taped side, going through 2028.To put it simply, t...