Universal Music Group revenue up 21.9% this year

Universal Music Group’s revenue was up 21.9% between January and September this year, to €3.398 billion (Australian $4.893 billion), its Paris-based parent company Vivendi reported.

The world’s largest record company’s biggest selling acts this year have been Rihanna, Robin Thicke, Imagine Dragons, Drake and Taylor Swift, as well as French acts Stromae and Vanessa Paradis.

Much of this jump is attributed to revenue from EMI Recorded Music, which Universal only acquired at the end of September 2012.

If you exclude revenue from EMI, Universal’s revenue rise was 0.9% between January to September 2013 compared to the same period last year, and 6.7% in Q3 2013 alone.

Digital sales now represent 53.9% of the company’s coffers, compared to 47.6% last year.

It wasn’t all good news for Vivendi: its profits were down by 23.8% at €2.12 billion (A$3.053 billion), compared to €2.85 billion in 2012 (A$4.104 billion).

In July it was offered US$8.5 billion (A$9.067 billion) for Universal Music Group, which it turned down.

Vivendi is currently restructuring its business to focus on media and entertainment.

The company reported the “synergies related to the EMI Recorded Music acquisition are on track and should reach the target of more than £100 million (A$171.93 million) by the end of 2014.”