Universal Music Group (UMG) reported significant growth in Q4 2024, with streaming subscription revenue increasing by 7.9% year-over-year to $1.32 billion/€1.23 billion, suggesting a potential end to the streaming plateau.

Key Q4 2024 Financial Highlights:

• Overall revenue growth: 7.2% YoY
• Total streaming revenue: $1.73 billion/€1.60 billion (up 4.6% YoY)
• Subscription streaming: $1.32 billion/€1.23 billion (up 7.9% YoY)
• Ad-supported streaming: $404.53 million/€375 million (down 5.1% YoY)
• Physical sales: $494.15 million/€458 million (up 2.5% YoY)
• Publishing revenue: $661.40 million/€613 million (up 6.4% YoY)
• Merchandising revenue: $284.84 million/€264 million (up 22.8% YoY)

Full Year 2024 Performance:

• Total revenue: $12.77 billion/€11.83 billion (up 6.5% YoY)
• EBITDA: $2.52 billion/€2.33 billion (up 29% YoY)
• Paid streaming revenue: $4.99 billion/€4.62 billion (up 8.2% YoY)

Additional Revenue Sources:

• Q4 DSP catch-up income: $21.58 million/€20 million
• Legal settlements revenue: $43.18 million/€40 million

Strategic Developments:

• Ongoing "Super Premium" tier discussions with all streaming partners
• Implementation of "phase two" cost-savings program
• Continued focus on superfan monetization efforts
• Projected 8-10% compound annual growth rate for subscription revenue through 2028

Despite challenges in ad-supported streaming and fitness platforms, UMG's strong subscription growth and diverse revenue streams indicate positive momentum in the streaming market.

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