Universal Music Group posted revenue of €5.673 billion in 2017, up 10% from the previous year. Recorded music revenue rose by 11.3% and music publishing revenue rose by 9.6%. The higher revenue drove EBITA up 20.6% to €761 million. Revenue from streaming and subscriptions grew 35.4%, which offset declining revenue from both downloads and physical sales.
“In 2018, UMG should be able to benefit from the growth of the market particularly as a result of the development of subscription and streaming services,” parent company Vivendi said in its press release announcing the results.