Inside UMG’s monetary figures for the 2024 fiscal/calendar yr lies this pearl: the corporate’s recorded music subscription revenues hit EUR €4.624 billion yearly, up 9.1% YoY.
That represented the equal of USD $5.00 billion, in keeping with common alternate charges for the yr as per IRS information.
In the meantime, This fall 2024 (the three months to finish of December), UMG’s subscription streaming revenues from recorded music had been up 9.0% YoY, to EUR €1.227 billion (USD $1.33bn).
There was much less excellent news, nonetheless, from the world of ad-funded streaming.
UMG’s recorded music turnover from ad-funded streaming in This fall fell 4.1% YoY, to €375 million ($408m).
For the complete yr of 2024 (Jan-December), UMG’s ad-funded revenues for recorded music had been flat (+0.1% YoY) at €1.414 billion ($1.53bn).
(All YoY share progress figures on this report mirror reported fixed foreign money.)
To place all of that into context: Subscription streaming made up over three-quarters (77%) of UMG’s complete recorded music streaming revenues in 2024, which hit EUR €6.038 billion (USD $6.53bn).
Advert-funded streaming contributed lower than one quarter (23%) of this complete determine.
UMG’s total revenues in FY 2024 (throughout recorded music, publishing, and extra) stood at EUR €11.834 (USD $12.81bn), up 7.6% YoY.
The agency’s adjusted EBITDA hit €2.661 billion ($2.88bn), up 13.8% YoY.
UMG’s recorded music revenues within the 12 months to finish of December 2024 grew 6.4% YoY to €8.901 billion ($9.63bn).
The agency’s music publishing revenues within the FY interval hit €2.121 billion ($2.30bn), up 9.0% YoY.
“We proceed to create worth for each our artists and shareholders by advancing our artist-centric technique, ushering the following evolution of streaming — ‘Streaming 2.0,’ and advancing a accountable and efficient method to AI.”
“2024 was a yr distinguished by the distinctive efficiency of our artists and songwriters and important progress on our strategic initiatives,” mentioned Sir Lucian Grainge, UMG’s Chairman and CEO.
“Our industry-leading funding in expertise continued to supply spectacular outcomes, each from world superstars, in addition to creating artists from around the globe.
“We proceed to create worth for each our artists and shareholders by advancing our artist-centric technique, ushering the following evolution of streaming — ‘Streaming 2.0,’ and advancing a accountable and efficient method to AI.”
UMG mentioned its largest world recorded music sellers in FY 2024 included “a number of albums” from Taylor Swift, plus albums from Billie Eilish, Sabrina Carpenter, Morgan Wallen, and Chappell Roan.
See under for a extra in-depth take a look at the This fall numbers.
This fall snapshot
Within the final three months of 2024, UMG generated revenues of EUR€3.439 billion (USD $3.74bn) throughout all of its divisions (together with recorded music, publishing and extra). That income determine was up 7.9% YoY
In response to its This fall fiscal report, and not using a EUR €20 million ‘catch-up’ cost from a DSP, plus an extra EUR€40 million in authorized settlements banked within the quarter, UMG’s total revenues in This fall had been up 6.1% YoY at fixed foreign money.
UMG’s recorded music income in This fall 2024 was up 6.8% YoY to EUR€2.566 billion (USD $2.79 bn).
This recorded music determine benefited from the one-off EUR€20 million ‘catch-up’ cost from a DSP.
It additionally benefited from a EUR €32 million bump through two authorized settlements within the quarter, associated to: (i) the settlement of a copyright infringement lawsuit booked in This fall 2024, and (ii) a settlement related to an exit in This fall 2024 by UMG from a JV partnership.
With out these authorized settlements and the DSP ‘catch up’ cost in This fall, UMG mentioned its recorded music revenues grew 4.6% YoYwithin the quarter.
Common’s high world recorded music sellers in This fall included Taylor Swift, Sabrina Carpenter, Billie Eilish, Chappell Roan, and Depraved: The Soundtrack.
In the meantime, Common’s music publishing division, Common Music Publishing Group, generated revenues of €613 million ($666m) in This fall, up 7.0% YoY at fixed foreign money (see above).
An €8 million sum from the authorized settlements described above was attributed to UMG’s publishing income within the quarter.
Excluding this authorized settlement cash, mentioned UMG, meant its publishing division’s income grew 5.6% YoY within the quarter, pushed by “continued progress in subscription and streaming income and enhancements in efficiency income”.
UMG’s ‘Merchandising and Different’ income in This fall 2024 was €264 million ($287m), up 23.4% YoY, pushed by “progress in direct-to-consumer and touring merchandise gross sales”, in keeping with the corporate.
Be aware: As talked about, all FY EUR-USD conversions on this report have been made utilizing common annual information from the IRS. All quarterly EUR-USD conversions have been made utilizing a charge provided to analysts and buyers by UMG.Music Enterprise Worldwide
