Universal Music Group braces for physical, ad streaming downturn, but says subscription is ‘more stable and robust’

Universal Music Group posted €1.43bn ($1.56bn) in recorded music revenues in the three months to end of March, up 13.1% year-on-year. UMG’s announcement of healthy Q1 numbers came after trade groups in Spain and Italy predicted that a combination of physical music and licensing declines, as well as potential streaming income declines, could severely hurt the major labels’ fiscal performance this year.

Source: Universal Music Group braces for physical, ad streaming downturn, but says subscription is ‘more stable and robust’

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