Universal Music Group Revenues Up 6% to $2.8B on Subscription Growth, As Execs Talk TikTok Deal ...Middle East

Helped by paid music subscriptions and a strong performance from its music publishing division, Universal Music Group generated revenue of 2.59 billion euros ($2.8 billion) in the first quarter of 2024, a 5.8% increase (7.9% at constant currency) over the prior-year quarter, the company announced Thursday (May 2).  Notably, UMG’s margins improved from a year earlier. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) improved 13.2% to 591 million euros ($640 million). As a percent of revenue, adjusted EBITDA margin was 22.8%, up 1.5 percentage points from 21.3% from the first quarter of 20

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