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Universal Music Group revenues boosted by digital in 2013
By Andy Malt | Published on Wednesday 26 February 2014
Universal Music Group owner Vivendi has confirmed it will “focus on its media and content activities” to take advantage of the growing digital marketplace, after announcing a 9.7% fall in net income year-on-year for 2013. The French conglom has been withdrawing from its other key area of business – telecommunications – for quite some time.
Publishing its annual results, Vivendi said that its music company performed well, with revenues up 12.8% to 4.9 billion euros (£4 billion) year-on-year in 2013. The continued decline in physical music sales was offset by a growth in digital revenues, which accounted for over 50% of sales income for the first time. Meanwhile in the digital domain, subscription and streaming revenue also grew by more than 75% in 2013.
The company said that its biggest sellers of last year were Eminem, Katy Perry, Imagine Dragons, Lady Gaga, Drake, Robin Thicke and French-language artist Stromae
Commenting on Vivendi’s new strategy, chairman of the management board Jean-François Dubos said: “Vivendi has decided to focus on its media and content activities, which hold leading positions and are taking advantage of the growing digital market”.
