Universal Music Group (UMG) reported strong financial performance in Q4 2024, with overall revenue growing 7.2% year-over-year, driven primarily by subscription streaming gains.

Key Q4 2024 Financial Highlights:

• Overall streaming revenue: $1.73 billion (up 4.6% YoY)
• Subscription streaming: $1.32 billion (up 7.9% YoY)
• Ad-supported streaming: $404.53 million (down 5.1% YoY)
• Physical sales: $494.15 million (up 2.5% YoY)
• Publishing revenue: $661.40 million (up 6.4% YoY)
• Merchandising revenue: $284.84 million (up 22.8% YoY)

Additional Revenue Factors:

• $21.58 million in DSP "catch-up income"
• $43.18 million from legal settlements (including copyright suit and JV exit)
• Excluding one-time gains, revenue increased 6.1% YoY at constant currency

Full Year 2024 Performance:

• Total revenue: $12.77 billion (up 6.5% YoY)
• EBITDA: $2.52 billion (up 29% YoY)
• Paid streaming revenue: $4.99 billion (up 8.2% YoY)

Future Outlook:

• UMG projects 8-10% compound annual growth rate for subscription revenue through 2028
• Company confirms ongoing Super Premium tier discussions with all streaming partners
• Implementation of "phase two" cost-savings program

Despite challenges in ad-supported streaming and fitness platforms, UMG's strong subscription growth and diversified revenue streams demonstrate resilience in the evolving music industry landscape.

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