UMG sees streaming revenue share double in 2015

UMG logo rectangle canvasUniversal Music Group reported its 2015 financial results, which demonstrated continued growth for streaming and subscription services. The company posted revenue of €5.11 billion ($5.66 billion), up 2.7% at constant currency over the previous year. Streaming and subscription revenue spiked up 43%, generating more than half of the UMG’s digital recorded music revenue. Those two formats also doubled their share to account for 24% of the company’s total recorded music revenue.

Digital downloads saw total revenue share drop from 24% in 2014 to 18%. Physical sales fell from 42% to 38%. Despite those declines, the increases from streaming and subscriptions offset them in the overall results. These full-year results followed through on the digital gains UMG showed in the first half of 2015.

Anna Washenko