Universal Music Revenue Up 10%, Reports Vivendi
[UPDATED] In a financial guidance released ahead of a full financial disclosure in mid-February, Vivendi confirmed fourth-quarter momentum at its Universal Music Group division, which it says will meet a full year guidance of 10% revenue growth and EBITA of close to 20%.
The full Vivendi statement on Universal:
"Universal Music Group (UMG) confirmed its excellent momentum during the fourth quarter of 2017, which should lead, as expected, to revenue growth of around 10% and an improvement in EBITA close to 20%, at constant currency. In 2017, UMG signed new agreements with Spotify, YouTube and Facebook enabling improved flexibility and better monetization of artist content while creating new revenue streams for the years to come. In addition, the agreement signed with Tencent in 2017 offers opportunities for UMG artists in the Chinese market and will accelerate the development of a local repertoire."
Vivendi will release its definitive earnings, including exceptional financial and tax items, as well as the financial situation of its main financial investments (Telecom Italia, Mediaset, Ubisoft, Telefonica, Fnac-Darty) on February 15, 2018, at market close.
Vivendi is one of the largest content, media and communications group in the world, with over 42,000 employees in 67 countries.