Universal Music earnings in Q2 2024 show revenue was up on Taylor Swift, merch sales and gains in publishing despite a drop in streaming revenue.
Taylor Swift performs onstage during"Taylor Swift | The Eras Tour" at San Siro on July 13, 2024 in Milan, Italy.The Tortured Poets Department
Despite a fall in ad-supported streaming that hampered streaming revenue gains, UMG’s overall revenue rose 8.7% to 2.93 billion euros , the company announced Wednesday . Earnings before interest, taxes, depreciation and amortization rose 17.4% to 580 million euros and EBITDA margin improved 1.1 percentage points to 19.8%.
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