UMG Digital Income Falls By $18m – Apple Music Blamed Or Surprise Dip
Universal Music Group’s income from digital recorded music fell by €17m ($18m) in the three months to end of September, compared to the prior quarter.
And parent Vivendi is pointing the finger at one culprit over any other for the dip: Apple Music’s free trial. According to MBW analysis, Universal turned over €450m (€485m) through digital music services in Q3.As previously reported, 51% of this figure came from streaming across ad-funded and subscription – the first time in UMG history that the format had overtaken downloads as a revenue driver. That means that the likes of YouTube, Spotify and Apple Music drove €229.5m ($247m) in the quarter for UMG.Downloads, meanwhile, fell in value by 8% for the company in Q3 – down to €220.5m ($237m). (A bit of reverse engineering, and we can work out that in Q2, downloads contributed around €239m ($257m) to UMG’s bottom line.)Hooray for streaming? Hang on a moment. Let’s take a closer look at UMG’s recent quarterly digital income.
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Sourced through Scoop.it from: www.musicbusinessworldwide.com