Universal Music's Revenue Surges on Subscription Growth
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Insights by Echo AI
Universal Music Group (UMG) has reported a significant increase in revenue, driven primarily by growth in subscription and streaming services. The world's largest music label saw its subscription revenue rise by 9.5% (excluding Downtown), while total revenue grew by 12.3% to €3.39 billion in the third quarter. This positive trend was attributed to price increases and healthy subscriber growth, marking a strong recovery after previous disappointing periods.
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