According to Billboard, that represented a 16.2 percent (18.5 percent in constant currency) increase over the 687 million euros ($724 million) the company produced in the prior year when revenues were 5.27 billion euros ($5.5 billion), or a 7.7 percent increase (10 percent in constant currency) in revenue.
With streaming revenue coming on strong and outpacing the decline of the revenue provided by the sales model, i.e. CDs and downloads, all boats are rising in the music industry, and like the other majors, UMG is enjoying the ride. Its operating margin has improved to 14.1 percent of revenue from 13 percent it had in 2016.
In the past, Vivendi executives have speculated on the valuation that UMG would command if it was separately listed as its own stock, but yesterday during a conference call with analysts, it sidestepped that issue when asked about it. "I will keep on repeating that there is no plan yet as we go out to any kind of a listing," CEO Arnaud De Puyfontaine said during a conference call with analysts, according to a Seeking Alpha transcription of that call. But he added, "in due time for the right reasons at the right rationale… we keep that possibility as an option, but as we speak there is no plan for such move."
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