Universal Music Group NV UMG

Universal Music's Size Gives It an Edge Over Most Competition

Spun out of Vivendi in September 2021, Universal Music is the largest of the three major global record labels, with Sony Music second and Warner Music third. Like its peers, the majority of Universal’s revenue comes from streaming, which generated 69% of total recording segment revenue in 2022, up from 54% in fiscal 2018. This percentage actually understates the overall impact of streaming, as Universal does not break out the streaming portion of publishing revenue separately.