{"id":24604,"date":"2026-10-29T20:51:54","date_gmt":"2026-10-29T20:51:54","guid":{"rendered":"https:\/\/interspacemusic.com\/blog\/universal-music-group-q3-2026-revenue-rises-as-dsp-talks-loom\/"},"modified":"2026-10-29T20:51:54","modified_gmt":"2026-10-29T20:51:54","slug":"universal-music-group-q3-2026-revenue-rises-as-dsp-talks-loom","status":"publish","type":"post","link":"https:\/\/interspacemusic.com\/blog\/universal-music-group-q3-2026-revenue-rises-as-dsp-talks-loom\/","title":{"rendered":"Universal Music Group Q3 2026 Revenue Rises as DSP Talks Loom"},"content":{"rendered":"<p><a href=\"https:\/\/www.universalmusic.com\/\"><strong>Universal Music Group<\/strong><\/a> reported third-quarter 2026 revenue of more than <strong>\u20ac3.39 billion<\/strong> ($3.80 billion), up 12.3% from a year earlier, with its Downtown acquisition contributing to growth. The company also outlined plans to change how streaming agreements compensate artists and their music.<\/p>\n<h2>Revenue and recorded music<\/h2>\n<p>Revenue grew 5.3% in constant currency when Downtown was excluded. Downtown contributed \u20ac195 million ($218 million). Earnings before interest, taxes, depreciation and amortization reached \u20ac672 million ($752 million), up 13.1% year over year, or 9.8% in constant currency excluding Downtown.<\/p>\n<p>Recorded music results included:<\/p>\n<ul>\n<li><strong>\u20ac1.42 billion<\/strong> in subscription revenue, up 20.7% overall and 8.4% in constant currency excluding Downtown.<\/li>\n<li><strong>\u20ac387 million<\/strong> in ad-supported revenue, up 14.8% overall and 4.7% on the same excluding-Downtown basis.<\/li>\n<li><strong>\u20ac392 million<\/strong> from physical releases, up 17.4% overall and 15% on that basis.<\/li>\n<li><strong>\u20ac325 million<\/strong> in license and other revenue, down 0.9% overall and 2.8% in constant currency excluding Downtown.<\/li>\n<\/ul>\n<p>Another recorded music revenue figure was \u20ac33 million, down 15.4% overall and 30.8% in constant currency excluding Downtown. The quarter\u2019s top sellers included <strong>Mrs. Green Apple<\/strong>, <strong><a href=\"https:\/\/www.oliviarodrigo.com\/\">Olivia Rodrigo<\/a><\/strong>, <strong>Stray Kids<\/strong>, <strong>Ariana Grande<\/strong> and <strong><a href=\"https:\/\/www.thebeatles.com\/\">The Beatles<\/a><\/strong>.<\/p>\n<h2>Publishing and merchandise<\/h2>\n<p>Music publishing revenue rose 8.7% to <strong>\u20ac590 million<\/strong>, including \u20ac370 million from digital and \u20ac64 million from synchronization. Excluding Downtown, publishing revenue grew 1.5% in constant currency. Publishing earnings before interest, taxes, depreciation and amortization fell 5.8% to \u20ac129 million.<\/p>\n<p>Chief financial officer <strong>Matt Ellis<\/strong> said the timing of industry distributions and synchronization activity can affect quarterly publishing growth. He said growth was below the company\u2019s longer-term expectations and that it continues to expect mid-single-digit growth from publishing in 2027.<\/p>\n<p>Merchandise and other revenue fell 4.2% to <strong>\u20ac248 million<\/strong>, partly because of lower touring income.<\/p>\n<h2>Streaming agreements and company plans<\/h2>\n<p>Chief executive <strong>Lucian Grainge<\/strong> said the company expects its partnerships to begin generating incremental revenue in fiscal 2027. He also argued that pro-rata streaming payments can reward large volumes of artificial intelligence (AI) generated tracks at the expense of music that attracts sustained demand.<\/p>\n<p>Grainge said Universal artists accounted for nearly half of the 900 tracks streamed more than 100 million times in the United States last year. He called for changes to agreements with DSPs (digital service providers) so compensation better reflects the value of different content.<\/p>\n<p>Universal\u2019s next phase of organizational changes will run through the end of 2028. Grainge said it will examine platform negotiations and pricing, the central commercial organization, label and international business structures, and company-wide use of data. Universal plans to provide further details and financial objectives with its full-year results.<\/p>\n<p>Universal Music shares closed at <strong>\u20ac15.84<\/strong> on Euronext Amsterdam, slightly above their opening price and approximately 31% below their level at the start of 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"Universal Music Group reported higher third-quarter revenue and earnings, while outlining plans to renegotiate streaming agreements.","protected":false},"author":6,"featured_media":24605,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[512],"tags":[170,1982,617,342,217],"class_list":["post-24604","post","type-post","status-publish","format-standard","has-post-thumbnail","category-industry-news","tag-ai","tag-downtown-music","tag-music-publishing","tag-streaming","tag-universal-music-group","cs-entry","cs-video-wrap"],"yoast_head":"<!-- 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