Universal Music Revenues Jump 21% on Recorded Music Subscriptions, Streaming in 2022

said the earnings were evidence the company’s diversified revenue streams has made it an example of the music business’ steady strength amid a darkening economic outlook.“We continue to successfully manage the company for long term growth while driving strong results in our core business — developing great artists and introducing their music to fans around the world,” said Grainge. “Our roster … achieved enormous commercial and creative success in markets around the world.

The company’s free cash flow increased by a whopping 70.2% to 638 million euros largely from the growth in adjusted EBITDA, according to the company’s filings.Revenue rose 21.6%, or 13.6% in constant currency, to 10.34 billion euros for 2022 from 8.5 billion euros in 2021 Subscriptions and streaming revenue rose 18.7%, or 9.8% in constant currency, to 5.3 billion euros in 2022 from 4.5 billion euros in 2021

Downloads and other digital revenue rose 4%, or fell 2.9% in constant currency, to 337 million euros in 2022 compared to 324 million in 2021Music publishing revenues overall rose 34.8%, 26.3% in constant currency, to 1.8 billion euros in 2022 from 1.3 billion euros in 2021

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