MUMBAI: Vivendi’s Universal Music Group (UMG) reported revenues of € 2,311 million, for a period of six months ending 30 June 2015 which is 15. 4 per cent (up 3.4 per cent at constant currency and perimeter) higher compared to same period last year. In three months ending 30 June 2015, the label registered a growth of 19 per cent from € 1,019 million in 2014 to € 1,214 million.

For this quarter of 2015, the company revealed that growth was driven by all its division.

The much-criticised subscription and streaming services, have witnessed a growth of 34 per cent which compensated the decline in digital downloads and physical sales. The digital download reported a fall of five per cent.

In Q1 2015, the sales of recorded music were strongly driven by carryover sales and new releases. In carryover list, there were sales from artists like Taylor Swift and Sam Smith, the Fifty Shades of Grey soundtrack. New releases from Drake, Maroon 5 and Mumford & Sons, have also driven the recorded music sales. Recorded music revenues grew by 3.6 per at constant currency and perimeter.

In the music publishing division, the company registered a growth of 2.7 per cent at constant currency.

The company also stated that it will continue investing heavily in high-potential markets for music, such as Africa, India and China. UMG will focus on accelerating the monetisation of music digital channels, to broaden the reach of its audio and video content through more partnerships, and to pursue its artist development. Merchandising and other revenues also saw growth of up 3.2 per cent at constant currency which is attributed to touring activity.

It is also stated that income from operations fell by 2.8 per cent from € 93 million in Q1 2015 to € 91 million in Q1 2014, at constant currency. For six month period ended 2015, UMG’s income from operations was € 179 million, up 9.2 per cent at constant currency and perimeter compared to the first half of 2014. Income from operations excludes restructuring charges, as well as a legal settlement income in Q1 2015 and the reversal of exceptional provisions in the Q1 2014.

UMG’s EBITA was € 89 million in Q1 2015 which is 11 per cent lower compared to same period last year. For six-month time frame in 2015, there was a 7.4 per cent rise at constant currency and perimeter, from € 153 million in same period last year to € 171 million in 2015.

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