Universal Music Group saw revenue gains of 1.6% year-on-year to €2.98 billion in Q2 2025.
The majority of this growth was in the recorded music and music publishing segments, driven by large acts signed by the label like Morgan Wallen, Sabrina Carpenter and Lady Gaga, who were top sellers for the quarter.
Recorded music revenue grew 1.1% year-over-year, and music publishing grew 11.5%.
The strong [publishing] growth also reflects the Chord [Music Partners] administration business, as well as our continued success in growing our film and TV administration business,” UMG’s COO, Boyd Muir, said.
The music label also saw growth in recorded music subscription revenue by 5.3% year-over-year, and streaming revenue increased 4.4%.
While these areas grew, merchandising and other revenue saw a decline of 15.4% from the same period last year.
Adjusted EBITDA also grew this quarter by 4.2% to €676 million.
"The breadth and diversity of our business has positioned us to deliver solid growth in revenue and Adjusted EBITDA again this quarter,” Muir said.
“We remain confident in our growth trajectory as we continue to invest with a focus on maximising long-term value and driving attractive returns in the coming years."
The same trends of growth and decline can be seen in the first half results for 2025, with overall revenue growing 6.4% since the same time last year to €5.88 billion.
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