Taylor Swift Boosts UMG's Album Sales But Streaming Hits Plateau
Universal Music Group reported a revenue increase in its third-quarter earnings, driven by Taylor Swift's album sales. Adjusted EBITDA rose by 7%, but streaming income saw limited growth. UMG aims to diversify with merchandise and exclusive content for super fans as streaming growth slows.
Universal Music Group (UMG), the leading global music label, exceeded revenue expectations in the third quarter, largely thanks to Taylor Swift's latest album boost in physical sales.
Despite a 7% increase in adjusted EBITDA to 594 million euros, UMG's streaming income saw a modest rise of only 2%, pointing to a shift towards less profitable platforms.
Another highlight was UMG's strategy to target 'superfans' through exclusive merchandising and premium digital experiences, demonstrating a strategic pivot in response to plateauing streaming growth.
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