Universal Music Just Reached Their Biggest Revenues in Over a Decade

All thanks to music streaming.

By
Music 
112 Hypes 0 Comments

The business of music streaming has been booming thanks to companies like Pandora and Spotify, but with the growth of music streaming, many record labels have not been happy, saying it’s been affecting their music sales. While this may hold up to be true, there’s also other data out there thats suggests streaming actually offsets the decline of music sales by reducing the amount of music that is illegally downloaded. Today, reports on Universal Music Group’s official earnings for 2015 provide compelling evidence to back up this fact. UMG’s 2015 fiscal year was their biggest growth in over a decade, with total revenues going up 1.4% and total net profit up 11.3% from 2014 – they’re attributing the increase to “strong growth in streaming and subscription sales, which has more than offset the decline in physical sales and downloads.”

Universal Music Reaches Biggest Revenues in Over a Decade

As you can see in the graph above, it’s clear while physical sales continue to decrease, streaming and subscription services are well on the rise. More details on this story can be found here.

Read Full Article

What to Read Next

Streetsnaps: Chris Josol of SURF IS DEAD at Agenda Las Vegas
Fashion

Streetsnaps: Chris Josol of SURF IS DEAD at Agenda Las Vegas

Location: Sands Expo — Las Vegas, Nevada

Watch 100 Years of Hair Trends for Black Males
Design

Watch 100 Years of Hair Trends for Black Males

From afros to flattops.

A Closer Look at the Air Jordan 12 Retro "The Master"
Footwear

A Closer Look at the Air Jordan 12 Retro "The Master"

Black, white and gold like MJ’s iconic Nike poster from ‘97.


Mighty Is an iPod Shuffle for Spotify
Tech

Mighty Is an iPod Shuffle for Spotify

The perfect on-the-go streaming music player?

Soulwax - Belgica (Album Stream)
Music 

Soulwax - Belgica (Album Stream)

The ‘Belgica’ soundtrack is out February 26.

Stream G.O.O.D. Music HXLT's New Album
Music 

Stream G.O.O.D. Music HXLT's New Album

His self-titled debut drops this February 26 via G.O.O.D. Music.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.