Universal Music earned $17.3m per day from streaming in Q1

Universal Music Group’s recorded music division earned EUR €1.43 billion from streaming in Q1.

These were figures from its French entertainment and media parent company Vivendi and marked a 16.5% year-on-year growth, and equivalent to $17.3 million per day.

High sales from Japanese boyband King & Prince, Justin Bieber, Eminem and The Weeknd, as well as continued sales from Billie Eilish and Post Malone, saw total recorded music up 13.1% in the three months to the end of March 2020, to €1.43 billion ($2.5 billion) at constant currency.

Music streaming and subscriptions were attributed for the growth.

Download revenues fell 26.1% to €137 million ($234.8 million) but the decline of physical sales slowed down to just a 1.4% drop to €196 million ($336 2 million).

Licensing revenues, which includes synchronisation, grew 7.4% to €191 million ($327.6 million).

UMG’s entire business – recorded music, publishing and merchandise – generated €1.77 billion ($3 billion), up 12.7% year-on-year.

Publishing revenue rose 17.7% to €271 million ($464.8 million), also driven by increased subscription and streaming revenues.

The drop in Universal artists touring in this period led to a 5% shrink in merchandising revenue, to €70 million ($119.9 million).

Vivendi noted that the COVID-19 pandemic only had “limited impact” on its financials.

Of its recent 10% sale to Tencent for €30 billion, UMG noted that “Vivendi is very happy with the arrival of the Tencent-led consortium. It will enable UMG to further develop in the Asian market.”

The company has now hinted that it is exploring further outside investment through equity.

“Now that this very significant strategic transaction has been completed, Vivendi will pursue the possible sale of additional minority interests in UMG, assisted by several banks .”