Billion Dollar Streaming Records Company

Indie Music Supporter:

UMG has become the first recorded music business to generate a billion dollars of revenue from streaming services in a calendar year.

According to the Q4 results of its French parent Vivendi, the major’s streaming income was up 43.2% at constant currency in 2015 to €954m.

When you apply the Euro/US dollar exchange rate from the end of 2015 (1.089/1), that figure equates to $1.04bn.

Vivendi prefers reporting in constant currency as it reflects like-for-like business performance – but 2015 also happened to be a year where a weak Euro was a great advantage to the company’s shareholders.

In actual terms (embracing currency fluctuations), streaming income at UMG was up by a remarkable 56.2% in 2015, from €610m in 2014.

That reflected a jump in annual streaming revenues of €344m ($374m) – comfortably more than a third of a billion dollars.

 

Full Story UNIVERSAL IS MUSIC’S FIRST BILLION DOLLAR STREAMING RECORD COMPANY

Indie Music Supporter:



Love Indie Music? Please spread the word :)

Facebook229k
Facebook
SHARE255k
Follow by Email321k