环球音乐集团第三季度营收33.94亿欧元增11.7%：订阅流媒体收入增19.2%，并表Downtown贡献增长
环球音乐集团（UMG）10月29日公布第三季度业绩（截至9月30日）：营收33.94亿欧元，同比增长12.3%，按固定汇率计算增11.7%；调整后EBITDA为7.29亿欧元，利润率21.5%。
今年2月20日完成收购的Downtown Music Holdings自收购日起并入报表。剔除Downtown后，公司营收按固定汇率增5.3%，调整后EBITDA利润率则升至22.4%。
录制音乐业务营收按固定汇率增14.7%至25.59亿欧元。其中订阅流媒体收入增19.2%至14.22亿欧元，剔除Downtown也增9.5%，公司称批发价格上调与订户持续健康增长是主要推动；广告支持流媒体收入增13.5%，实体收入增17.4%，下载等数字收入则继续下滑。
本季畅销艺人包括Mrs. GREEN APPLE、Olivia Rodrigo、Stray Kids、Ariana Grande与The Beatles。首席执行官Lucian Grainge称，Downtown是环球音乐自EMI以来最重要的收购，集团正把其艺人与厂牌服务能力整合进全公司。
Universal Music Group Q3 Revenue Grows 11.7% in Constant Currency to €3.394 Billion as Subscription Streaming Jumps 19.2%
Universal Music Group reported third-quarter results on October 29: revenue of €3.394 billion grew 12.3 percent year over year, or 11.7 percent in constant currency, with adjusted EBITDA of €729 million at a 21.5 percent margin.
The figures include Downtown Music Holdings, consolidated from its acquisition date of February 20, 2026. Excluding Downtown, revenue grew 5.3 percent in constant currency and the adjusted EBITDA margin expanded to 22.4 percent.
Recorded Music revenue grew 14.7 percent in constant currency to €2.559 billion. Subscription streaming revenue jumped 19.2 percent to €1.422 billion — up 9.5 percent excluding Downtown — which UMG attributed to wholesale price increases and continued healthy subscriber growth. Ad-supported streaming revenue grew 13.5 percent, physical revenue rose 17.4 percent, and downloads continued to decline.
Top sellers in the quarter included Mrs. Green Apple, Olivia Rodrigo, Stray Kids, Ariana Grande and The Beatles. CEO Lucian Grainge called Downtown the most important acquisition UMG has made since EMI, saying the group is integrating its artist and label services capabilities across the company.
来源：GSM·美国（原文链接）
图片来源：图：位于美国加州圣莫尼卡Colorado大道2105号的环球音乐集团总部办公楼（资料图）。Coolcaesar摄，CC BY 4.0，经Wikimedia Commons。 / Universal Music Group's headquarters building at 2105 Colorado Avenue in Santa Monica, California (file photo). Photo by Coolcaesar, CC BY 4.0, via Wikimedia Commons.
