Universal Music Group up 10% revenue in Q4 says early report

Universal Music Group’s enjoyed a 10% rise in revenue in Q4, according to an early report from parent company Vivendi.

The full announcement will be made in mid-February.

Expect an improvement in EBITA of close to 20%, at constant currency.

In the early report Universal Music pinpointed three new deals from last year which has provided it with the greatest optimism for the future.

*With Spotify/YouTube which it said enabled “improved flexibility and better monetization of artist content while creating new revenue streams for the years to come.”

*With China’s Tencent empire which allowed the major to make greater gains in the fast growing music market and allowed it to develop a Chinese artist roster.

*With Facebook in late December.

In the last quarter, Universal Music Group’s revenue grew 0.08% to €1.32 billion (A$2 billion) while operating profits fell by almost 8% to €161 million ($248 million).

Vivendi is one of the largest content, media and communications group in the world, with over 42,000 employees in 67 countries.