Universal Music Revenue Beats Estimates on Subscription Growth.

UNIVERSAL Music Group Inc.; INVESTORS; CHIEF financial officers; BUSINESS revenue; MUSIC videos; INVESTMENT advisors

Universal Music Group NV, the world's largest record label, exceeded revenue expectations in the third quarter of 2024 due to growth in subscribers and price increases on certain platforms. The company aims for revenue growth of over 7% through 2028, driven by subscription revenue and increased superfan monetization. Despite a slight increase in streaming revenue, Universal Music's shares had previously dropped due to concerns about subscriber growth and licensing issues with Meta Platforms Inc. Top-selling artists for the quarter included Taylor Swift, Billie Eilish, and Post Malone. [Extracted from the article]

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