UMG's Q1: Flat Revenue, Spotify Sale, & Buyback Boost

Universal Music Groups Q1 revenue held steady at €2.9 billion, with an 8.1% increase in constant currency terms. They plan to sell half their Spotify shares and boost stock buyback to €1 billion. Adjusted EBITDA, though down 3.8% reported, rose 3.9% in constant currency. Recorded music subscription revenue surged 12.5% to €1.3 billion, driven by better streaming deals and Downtown Music Holdings acquisition. Music publishing grew 7%, while merchandising dipped slightly. UMGs strong lineup, including BTS, Taylor Swift, and Olivia Dean, positions them well for future growth. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/4cfd474560bf67c0