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Home News

Universal Music Group Q3 Results: A Closer Look

by Myfxtools
October 25, 2023
in News
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Universal Music Group, home to some of the biggest names in the music industry like The Weeknd, Billie Eilish, and Taylor Swift, is set to announce its third-quarter results on Thursday. Here are the key details you need to know:

Revenue Forecast

According to analysts at Citi, Universal Music Group is expected to report a revenue of 2.68 billion euros ($2.84 billion) for the three-month period ending in September. This forecast reflects a slight increase from last year’s third-quarter revenue of EUR2.66 billion.

Earnings Forecast

Citi analysts estimate that Universal Music Group’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), a crucial profitability metric, will reach EUR579 million with a 21.6% adjusted margin. This projection exceeds last year’s figures of EUR553 million and a 20.8% adjusted margin.

Key Focus Areas

Streaming

Universal Music Group experienced a 5.3% increase in streaming revenue during the second quarter. Experts predict that the third-quarter results will show even stronger growth in this area. Citi analysts expect an 8% increase in streaming revenue for the quarter. However, it’s important to note that this forecast marks a departure from the exceptional growth seen during the height of the pandemic when streaming services thrived due to Covid-19 restrictions on live concerts.

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