Universal Music Group’s revenues increased by 10% at constant currency in 2017 on the back of streaming growth and successful album campaigns.
The major recorded revenues of €5.673 billion (£5.04 billion) last year, up 7.7% compared to 2016 on an actual basis.
Recorded music revenues were up 11.3% at constant currency – and subscription and streaming growth of 35.4% more than offset decline in download and physical sales.
Music publishing revenues increased by 9.6% at constant currency, boosted by streaming as well as growth in sync and public performance revenues. Merchandising and other revenues were down 7.1% at constant currency as a result of lower touring activity.
UMG’s EBITA totalled €761 million (£676.1m), up 20.6% at constant currency.