Universal is making over $6m a day from streaming

Universal streaming revenues soar 45% to top $1bn in H1 2017
Universal Music Group’s labels generated €962m ($1.1bn) in revenues from streaming in the first half of 2017.

That’s a jump of 45.1% year-on-year (at constant currency/perimeter), and the equivalent of approximately $44m every week, or over $6m every day.

Sales from downloads fell 18% year-on-year to €353m ($420m) in the six months, while physical recorded music revenues dipped by a tiny 1.8% to €484m ($575m).

Overall, UMG’s global recorded music business saw sales rise 15.6% in Jan-June 2017, to€2.14bn ($2.5bn).

Including UMG’s music publishing operation and other activities, total half-year group revenues rose 14% to €2.67bn ($3.2bn).

Total H1 group EBITA profit stood at €286m ($340m) – a jump of 58.4% year-on-year.(MBW)

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