UMG Quarterly Profits Up 9{f7ace28afe27113323ebcbc15db4aacb666c5f5c079bf840994bad8a1353241c} on Streaming Strength

And then you have downloads. A yr back the fall in revenue amounted to a…

And then you have downloads. A yr back the fall in revenue amounted to a 26{f7ace28afe27113323ebcbc15db4aacb666c5f5c079bf840994bad8a1353241c} decrease, when this calendar year the fading format tumbled 40.9{f7ace28afe27113323ebcbc15db4aacb666c5f5c079bf840994bad8a1353241c} to just €81 million ($98.6 million). Licensing and other income, in the meantime, had a flat quarter, down .1{f7ace28afe27113323ebcbc15db4aacb666c5f5c079bf840994bad8a1353241c} to €181 million ($218 million).

Music publishing revenues grew by 6.9{f7ace28afe27113323ebcbc15db4aacb666c5f5c079bf840994bad8a1353241c} to €271 million ($325 million), also driven by improved subscription and streaming revenues.

Merchandising and other revenues yet again felt the effects of the pandemic, down 10{f7ace28afe27113323ebcbc15db4aacb666c5f5c079bf840994bad8a1353241c} as opposed to the very first quarter of 2020. The fall was attributed to a continued absence of touring action, nevertheless the business claimed retail and immediate-to-client profits have enhanced in new months.

Mother or father company Vivendi’s Q1 earnings totaled €3.901 billion, an increase of 5{f7ace28afe27113323ebcbc15db4aacb666c5f5c079bf840994bad8a1353241c} (at continual currency) on the exact same period the earlier calendar year. The French conglomerate pointed suitable at UMG for the group maximize, as properly as a 40{f7ace28afe27113323ebcbc15db4aacb666c5f5c079bf840994bad8a1353241c} jump for Editis. All other significant units, like Canal+ Group and Havas Group, have been possibly flat or down.

Later on this yr, Vivendi options on spinning off UMG with a listing on the Amsterdam Euronext trade. When completed, Vivendi will hold only a 20{f7ace28afe27113323ebcbc15db4aacb666c5f5c079bf840994bad8a1353241c} stake in UMG, the world’s greatest songs firm, which it has owned considering the fact that 2004. As aspect of that planned IPO, UMG’s headquarters are now in Hilversum, Netherlands—they ended up previously situated in Paris— and the business is now regrouping the subsidiaries in the several countries in which it operates, according to Vivendi’s financials.

At last, in clear preparation for when UMG gets to be a stand-alone business, Vivendi said UMG has lined up a 5-yr, €3 billion funding line—probably a revolving credit history facility—that is envisioned to be a signed offer by the close of this month.

(This story employs an exchange fee of a single euro to 1.217 dollars for the first quarter of 2021 and one euro to 1.1 bucks for the initially quarter of 2020.)