Streaming A Cash Bonanza For UMG

Universal Music Group’s labels generated $1.05B in revenues from streaming in the first half of 2017.

According to Music Business Worldwide, that’s a jump of 45.1% year-on-year, and the equivalent of over $40M every week, or around $6M every day. Or about $250,000 every single hour.

Sales from downloads fell 18% year-on-year to $382M in the six months, while physical recorded music revenues dipped by a tiny 1.8% to $524M.

Overall, UMG’s global recorded music business saw sales rise 15.6% in Jan-June 2017, to $2.3B.

Including UMG’s music publishing operation and other activities, total group revenues rose 14% to €$2.9B.