Universal 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.