Universal Music Group’s third-quarter results point to accelerating growth in royalty revenue alongside continued cost-cutting measures across the company, according to a new analysis from Music Business Worldwide founder Tim Ingham.
The breakdown also highlights improving margins at Downtown, the distribution and services business UMG acquired, suggesting the division is becoming a more meaningful contributor to the major’s overall financial performance.
The commentary adds to ongoing industry scrutiny of how major labels are managing profitability amid shifting streaming economics and consolidation among distribution and services providers.
Read the full story at Music Business Worldwide.