July 30 (Reuters) – Universal Music Group reported second-quarter revenue of 3.29 billion euros ($3.79 billion) on Thursday, up 13.3% year-on-year at constant exchange rates, helped by the consolidation of Downtown Music and higher streaming prices.
The results underscore the importance of pricing and acquisitions to UMG’s growth strategy as the world’s largest music company looks to diversify its revenue base beyond traditional subscription streaming.
• Seconds quarter adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) came in up 1.5% year-on-year at constant currency to €674 million
• Merchandising revenue dropped 10.7% over the quarter, impacted by the timing of tours & new product releases
• Net profit fell 84.5% to €222 million, while free cash flow dropped to €24 million from €163 million a year earlier.
• Net debt at the end of H1 2026 was €4,13 million compared to €2,39 million at the end of 2025, weighed by the Downtown acquisition, dividends and share buybacks
• Top sellers during the quarter included Olivia Rodrigo, Noah Kahan and South Korea’s BTS, Universal said
($1 = 0.8686 euros)
(Reporting by Leo Marchandon in Gdansk ; editing by Matt Scuffham)
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