Universal Music revenues dip 2% in Q1, but EBITA soars
Universal Music Group’s (UMG) revenues stood at €984 million in the first three months of 2014, down 2.0% at constant currency on the year before.
The company blamed lower recorded music and merchandising sales for the slight dip.
Revenues were down 9.8% at current currency and taking into account the impact of the Parlophone Label Group disposal in 2013.
In a financial statement, UMG said: “Recorded music revenues benefited from significant growth in subscription and streaming, although with lower download ...
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