Universal Music Group posted booming results for 2022, with revenues soaring 21.6% to nearly $10.95 billion, driven by streaming and a strong performance from its recorded music and publishing divi…
posted booming results for 2022, with revenues soaring 21.6% to nearly $10.95 billion, driven by streaming and a strong performance from its recorded music and publishing divisions.
Top sellers for the year included Taylor Swift, BTS, the “Encanto” sountrack, Olivia Rodrigo, Morgan Wallen and the Beatles, while top sellers for the fourth quarter were Swift, the Beatles, Drake, Seventeen and Lil Baby.project with Tidal to come up with a new economic model Crunching the numbers, revenue was up 21.6% year over year, or 13.6% in constant currency, to around $10.95 billion for 2022. EBIDTA was up 20.3%, or 12.5% in constant currency, to $2.15 billion. Operating profit rose 14.8%, or 7.9% in constant currency, to $1.69 billion, while net debt dropped 10% to $1.9 billion.
Music publishing revenues overall rose 34.8%, 26.3% in constant currency, to $1.9 billion. Performance revenues rose 24.9%, or 18.2% in constant currency, to $393 million. Synch revenues were up 18.6%, or 10.3% in constant currency, to $250 million.
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