UMG says it expects a continuation of the boom in music streaming, led by its strength across artists, geographical regions, and formats. “Top sellers for the quarter included releases from Disney’s ‘Encanto’ soundtrack, King & Prince, The Weeknd, Fujii Kaze and Ado,” UMG says in its press release. The result bucks industry anxiety over a pending plateau in music streaming, particularly in cash-rich nations like the US.
Source: Universal Music Group Earnings Jump 22% Year Over Year