Universal Music Group NV

UMG: XAMS (NLD)

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Universal Music Earnings: Nothing Should Be Extrapolated From a Messy Quarter and Areas of Weakness

Matthew Dolgin

Apr 30, 2026

Universal Music's first-quarter revenue was virtually flat year over year, including an 8-percentage-point currency headwind, but also a 3-point boost from its acquisition of Downtown Music, which also weighed on margins. Organic subscription streaming revenue grew only 8% year over year.

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Universal Music Group NV

Universal Music Earnings: Nothing Should Be Extrapolated From a Messy Quarter and Areas of Weakness

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