You will be redirected back to your article in seconds

Universal Music Group Revenue Up 10% for Fourth Quarter, According to Early Report

In an early guidance report issued of its full announcement next month, Universal Music Group parent company Vivendi announced that for the fourth quarter of 2017, UMG will see 10% revenue growth and a nearly 20% bump in EBITA.

The report singled out the company’s new deals with Spotify and YouTube as “enabling improved flexibility and better monetization of artist content while creating new revenue streams for the years to come.” It also pointed to a 2017 agreement with Chinese internet goliath Tencent as offering opportunities for Universal in that country’s market and accelerating the development of a local repertoire. UMG chief Lucian Grainge’s team also announced a major licensing deal with Facebook late in December, the first of the social-media platform’s string of deals over the past month, which also include Sony/ATV and Kobalt publishing companies and the performing-rights organization Global Music Rights.

In August, a potentially over-enthusiastic Goldman Sachs report entitled “Music in the Air” predicted that due to streaming’s rapid growth, worldwide revenues from it streaming will reach a whopping $28 billion by 2030, and that paid streaming users worldwide will reach 847 million by that year. Consequently, the company raised its valuation of UMG to $23.5 billion (from around $20.1 billion), a 16% jump, and Sony Music Entertainment’s up 12% to around $20.1 billion.

More Music

  • Jamie FoxxBET Awards, Show, Los Angeles,

    2018 BET Awards: Kendrick Lamar Wins Big at Youth-Centered Show

    In an early guidance report issued of its full announcement next month, Universal Music Group parent company Vivendi announced that for the fourth quarter of 2017, UMG will see 10% revenue growth and a nearly 20% bump in EBITA. The report singled out the company’s new deals with Spotify and YouTube as “enabling improved flexibility […]

  • Netflix Unveils 'Great Day in Hollywood'

    Netflix Unveils 'Great Day in Hollywood' Image Spot Highlighting Black Creators

    In an early guidance report issued of its full announcement next month, Universal Music Group parent company Vivendi announced that for the fourth quarter of 2017, UMG will see 10% revenue growth and a nearly 20% bump in EBITA. The report singled out the company’s new deals with Spotify and YouTube as “enabling improved flexibility […]

  • Jamie FoxxBET Awards, Show, Los Angeles,

    BET Awards: Jamie Foxx Goes Off-Script to 'Acknowledge' Childish Gambino

    In an early guidance report issued of its full announcement next month, Universal Music Group parent company Vivendi announced that for the fourth quarter of 2017, UMG will see 10% revenue growth and a nearly 20% bump in EBITA. The report singled out the company’s new deals with Spotify and YouTube as “enabling improved flexibility […]

  • Kendrick Lamar

    2018 BET Awards Complete Winners List

    In an early guidance report issued of its full announcement next month, Universal Music Group parent company Vivendi announced that for the fourth quarter of 2017, UMG will see 10% revenue growth and a nearly 20% bump in EBITA. The report singled out the company’s new deals with Spotify and YouTube as “enabling improved flexibility […]

  • Mandatory Credit: Photo by Broadimage/REX/Shutterstock (9725704q)AtmosphereArroyo

    Arroyo Seco Weekend: Craft Cocktails, Local Chefs Add to Festival's Mellow Mood

    In an early guidance report issued of its full announcement next month, Universal Music Group parent company Vivendi announced that for the fourth quarter of 2017, UMG will see 10% revenue growth and a nearly 20% bump in EBITA. The report singled out the company’s new deals with Spotify and YouTube as “enabling improved flexibility […]

  • DISNEY CHANNEL PRESENTS THE 2018 RADIO

    Janet Jackson, Kelly Clarkson, Carrie Underwood Honored at Radio Disney Music Awards

    In an early guidance report issued of its full announcement next month, Universal Music Group parent company Vivendi announced that for the fourth quarter of 2017, UMG will see 10% revenue growth and a nearly 20% bump in EBITA. The report singled out the company’s new deals with Spotify and YouTube as “enabling improved flexibility […]

  • No Merchandising. Editorial Use Only. No

    'Portlandia': Fred Armisen and Carrie Brownstein Pick Their Proudest Musical Moments

    In an early guidance report issued of its full announcement next month, Universal Music Group parent company Vivendi announced that for the fourth quarter of 2017, UMG will see 10% revenue growth and a nearly 20% bump in EBITA. The report singled out the company’s new deals with Spotify and YouTube as “enabling improved flexibility […]

More From Our Brands

Access exclusive content