UMG Still Growing

Universal Music Group keeps growing and saw Q1 revenues rise 2.3 percent, from $1.1 billion to $1.23 billion. 

It’s also the first time that increased subscription and streaming revenues outweighed the decline in revenues from digital downloads and physical sales. Earnings before interest, taxation and amortization increased 39.3 percent to $92 million.

UMG noted four new albums as performing notably, including the soundtrack to “Fifty Shades of Grey,” as well as new albums by DrakeKendrick Lamar, and Madonna.

Parent company Vivendi posted increased operating results for the first quarter of 2015, Buoyed by UMG’s performance.