Thriving due to the Talent it Represents, Universal's Earnings Soar
Benefitting from growth from streaming services and also being reinforced by ad-supported social media platforms, Universal Music Publishing Group (Universal) met expectations in 2021 with overall core earnings rising 19.0% for the year. The company’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $1.9 billion, indicating Universal’s strong footing in the industry. As represented stars under the label, such as The Weeknd and BTS, subscription streaming revenue continues to grow. Universal additionally profits from popular platforms such as TikTok and YouTube, as consumers are able to enjoy music on alternative applications.
New Activity|ESG|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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