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SummaryCompaniesUMG's Q3 revenue beats expectations at 3 billion eurosNew Taylor Swift album boosts physical sales but not streamingUMG artists hold 54% of global top 50 songs in Q3 2025 Oct 30 (Reuters) - Universal Music Group (UMG.AS), opens new tab on Thursday reported third-quarter revenue above market expectations with Taylor Swift's new release boosting physical album sales. The world's biggest music label, which also counts South Korean boy band BTS in its portfolio, said quarterly revenue grew 5% year-on-year to 3 billion euros ($3.5 billion), topping the 2.95 billion average analyst forecast provided by LSEG. Advertisement · Scroll to continueReport Ad Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 7% to 594 million euros. Streaming and subscription, which account for more than half of UMG's income, only grew around 2% to 1.52 billion euros. Income from streaming platforms shrank by 5% as consumers shifted to less profitable platforms, the company said, without giving further details. TAYLOR SWIFT BOOSTS PHYSICAL SALES, NOT STREAMING UMG's physical sales, accounting for around 10% of total revenue, rose 18.5% to 341 million euros, lifted by Swift's 'The Life of a Showgirl' release. "What Taylor has achieved with her 12th studio album is literally breathtaking," CEO Lucian Grainge said on an earnings call. "The biggest first week in music history now belongs to 'The Life of a Showgirl'," he added. Advertisement · Scroll to continue Get the key points from this story with Reuters AI The record sold over four million copies in the United States, and a further five and a half million globally, handing Swift her fifteenth number one album spot, a record for a solo artist. However, the release has not significantly lifted streaming revenue, as UMG already benefits from premium rates on Swift's existing catalog. Analysts said that global streaming adoption has plateaued, limiting further growth. "Our music chart tracker reveals that UMG artists held a 54% share of the global top 50 songs in Q3 2025, sequentially higher than Q2", Deutsche Bank analyst Silvia Cuneo said in a note. FOCUS ON 'SUPERFANS' UMG is diversifying its revenue streams through merchandising, tiered subscription services with exclusive content, and premium digital experiences, targeting the cost-committed "superfans" of top artists. Ad Break Coming Up NEXT StayNext OffEnglish 180p288p360p480p540p576p720pHD1080pHDAuto (180p) About ConnatixV2131534911 About ConnatixV2131534911 Continue watchingafter the adVisit Advertiser websiteGO TO PAGE Merchandising revenue rose 9% year-on-year to 259 million euros, driven by stronger sales of touring merchandise, although growth was tempered by the timing of new product launches, the company said in a statement. "Looking ahead, Q4 should incrementally benefit from the new Taylor Swift album released in October", Cuneo added. ($1 = 0.8575 euros) Reporting by Leo Marchandon; Editing by Matt Scuffham, Kirsten Donovan Purchase Licensing Rights Leo MarchandonThomson ReutersLeo is a news reporter based in Gdansk, focusing on the media, telecoms, and technology sectors in France and the Benelux countries. Prior to this, he worked in France, covering regional and business news, including politics, policies, economy and business with strong focus on tech startups.Email
