{"id":84995,"date":"2021-04-23T14:00:00","date_gmt":"2021-04-23T13:00:00","guid":{"rendered":"https:\/\/routenote.com\/blog\/?p=84995"},"modified":"2021-04-23T12:57:37","modified_gmt":"2021-04-23T11:57:37","slug":"universal-music-group-made-1m-an-hour-in-q1-2021","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/universal-music-group-made-1m-an-hour-in-q1-2021\/","title":{"rendered":"Universal Music Group made $1m an hour in Q1 2021"},"content":{"rendered":"\n<p><em>Image Credit: <a href=\"https:\/\/www.universalmusic.com\/\">Universal Music Group<\/a><\/em><\/p>\n\n\n\n<h4><span style=\"color:#3366FF\"> There was another rise in revenue for Universal Music compared to the same period in 2020, as the music giant published their Q1 results for 2021.<\/span><\/h4>\n\n\n\n<p><a href=\"https:\/\/routenote.com\/blog\/universal-and-music-streaming-service-boomplay-expand-license-to-cover-47-countries-across-africa\/\">Universal Music Group<\/a> has published its Q1 results, showing another rise in revenue for the music giant. The statement follows its parent company Vivendi\u2019s announcement that <a href=\"https:\/\/routenote.com\/blog\/kanye-west-doesnt-just-want-to-acquire-his-masters-im-going-to-buy-universal\/\">Universal Music<\/a> expects to go public at the end of 2021, with its <a href=\"https:\/\/routenote.com\/blog\/brace-universal-music-group-launching-ipo\/\">IPO<\/a> moved up from early 2022.<\/p>\n\n\n\n<p>The results show a rise in total revenue of 9.4% compared to the same period in 2020, with revenues including publishing and recorded music reaching $2.20 billion. <a href=\"https:\/\/www.musicbusinessworldwide.com\/universal-music-group-generated-over-1m-per-hour-in-q1-and-expects-to-go-public-in-the-fall\/\">Music Business Worldwide<\/a> equates that to just above $1 million an hour.<\/p>\n\n\n\n<p><a href=\"https:\/\/routenote.com\/blog\/music-distribution-for-producers-explained\/\">Streaming<\/a> continues to dominate, growing 19.6% compared to Q1 2020, which pushed recorded music revenues up by 10.8%. Interestingly physical sales, always dwarfed by streaming, grew by 14.8%. Music <a href=\"https:\/\/routenote.com\/blog\/do-music-producers-get-music-publishing-royalties\/\">publishing<\/a> revenues meanwhile grew by 6.9%.<\/p>\n\n\n\n<p>Big hits for <a href=\"https:\/\/routenote.com\/blog\/tencent-now-own-10-of-universal-music-group-following-a-drawn-out-deal\/\">Universal Music<\/a> in the first quarter included teen juggernaut <a href=\"https:\/\/routenote.com\/blog\/olivia-rodrigos-debut-single-drivers-license-breaks-streaming-records\/\">\u201cDriver\u2019s License\u201d by Olivia Rodrigo.<\/a> Along with Justin Bieber\u2019s \u201cPeaches\u201d the two tracks held number one on the Spotify global chart for 12 out of 13 weeks. And for six consecutive weeks the <a href=\"https:\/\/routenote.com\/blog\/universal-music-group-has-pulled-its-catalogue-from-triller\/\">music company<\/a> had songs at the top three on the Spotify chart.<\/p>\n\n\n\n<p>In gloomier but not unexpected news, <a href=\"https:\/\/routenote.com\/blog\/amazon-music-offering-exclusive-artist-merch-on-artist-pages\/\">merch<\/a> and other revenues fell by 10% as tours and <a href=\"https:\/\/routenote.com\/blog\/boomtown-cancels\/\">gigs<\/a> continue to be disrupted by the global pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There was another rise in revenue for Universal Music compared to the same period in 2020, as the music giant published their Q1 results for 2021.<\/p>\n","protected":false},"author":24,"featured_media":13263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[25161,25167,24238,680,25163,25162,22011,25164],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.4.1 - 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