
Universal Music Reports 8% Q4 Streaming Growth, Advances Super Premium Streaming Plans
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.

Universal Music Group logo
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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