Streaming revenues from recorded music comfortably surpassed $1bn at Universal Music Group in the first nine months of 2016.

From January-September, UMG’s recorded sales from streaming and subscription services reached €1.03bn ($1.1bn) – up 64.3% on the same period in 2015 (at constant currency and perimeter).

That was enough to push overall recorded music sales to €2.83bn ($3.1bn), up 2.9% year-on-year (or 3.8% using the constant currency/perimeter yardstick).

It’s worth comparing that to Sony’s recorded music division which, blighted by unfavorable currency conversion, posted $2.65bn (280.65bn Yen) in the same period.

Source: www.musicbusinessworldwide.com

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