Universal Music Group has reported its Q3 2024 financial results, with total revenue reaching $3.12 billion (€2.87 billion), representing a 4.3% year-over-year increase.

Key Financial Highlights:

• Recorded Music Revenue: $2.34 billion (up 5.4% YoY)
• Publishing Revenue: $544.15 million (up 1.8% YoY)
• EBITDA: $605.15 million

Streaming Performance:

• Subscription revenue remained flat at $1.24 billion quarter-over-quarter
• Ad-supported revenue showed slight improvement at $385.26 million
• Digital sources contributed $321.05 million to publishing revenue

Notable Trends:

• Physical revenue declined 2% YoY to $313.43 million
• Downloads continued declining, down 28.8% YoY
• Top performers included Taylor Swift, Billie Eilish, and Post Malone

Future Outlook:

• UMG maintains its forecast of 8-10% annual subscription revenue growth through 2028
• Company focuses on superfan monetization and premium tiers
• Management emphasizes long-term growth potential despite quarterly fluctuations

The company's shares closed at $25.12 per share, showing a 1.4% decrease following the earnings announcement.

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