Vivendi has released its earnings report for the full year of 2017, with Universal Music Group‘s revenue increasing 10 percent to approximately $6.4 billion (at constant currency). Vivendi’s overall revenue for the year was up by 4.9 percent overall. The company specifically attributed part of its growth to UMG, noting its music division had a “very solid performance fueled by the success of subscription and streaming services as well as a number of successful album releases.”
Universal’s recorded music division had an 11.3 percent increase to roughly $5.1 billion in 2017, with streaming alone accounting for around $2.2 billion of this figure. Publishing royalties were up 9.6 percent. However, UMG saw a 7.1 percent dip in merchandising and miscellanous other revenue.
Vivendi’s report also noted that “In 2018, UMG should be able to benefit from the growth of the market particularly as a result of the development of subscription and streaming services.”
Best sellers for Universal Music in 2017 included Taylor Swift, Kendrick Lamar, Drake, The Weeknd, “Despacito” from Luis Fonsi and the 50th Anniversary edition of Sgt. Pepper’s Lonely Hearts Club Band by The Beatles, as well as the Moana and La La Land soundtracks.