Universal Music Group reported notable growth in Q4 2024, with subscription streaming revenue increasing by 7.9% year-over-year to $1.32 billion/€1.23 billion, despite ongoing concerns about streaming plateaus.

Key Q4 2024 Financial Highlights:

• Overall revenue growth: 7.2% YoY
• Total streaming revenue: $1.73 billion/€1.60 billion (up 4.6% YoY)
• Ad-supported streaming: $404.53 million/€375 million (down 5.1% YoY)
• Physical sales: $494.15 million/€458 million (up 2.5% YoY)
• Publishing revenue: $661.40 million/€613 million (up 6.4% YoY)
• Merchandise revenue: $284.84 million/€264 million (up 22.8% YoY)

Full Year 2024 Performance:

• Total revenue: $12.77 billion/€11.83 billion (up 6.5% YoY)
• EBITDA: $2.52 billion/€2.33 billion (up 29% YoY)
• Paid streaming revenue: $4.99 billion/€4.62 billion (up 8.2% YoY)

Notable Developments:

• UMG received $21.58 million/€20 million in DSP "catch-up income"
• Two legal settlements contributed $43.18 million/€40 million in additional revenue
• The company is in discussions with all partners about Super Premium tiers
• UMG maintains its projection of 8-10% compound annual growth rate for subscription revenue through 2028

The company continues to focus on "Streaming 2.0" initiatives and superfan monetization strategies, with plans to implement phase two of its cost-savings program.

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