International music corporation, Universal Music Group, recently revealed their 2015 earnings, citing the company’s highest revenues in the past decade. According to Music Business Worldwide, the company brought in a total of $5.6 billion, which was a 12.1% increase from 2014.
UMG is a subsidiary of French media conglomerate Vivendi, who shared their full year results for 2015, telling investors that “significant growth in subscription and streaming revenues more than offset decline in physical and download revenues.”
UMG’s revenue from downloads fell 13% in the past year, but their streaming income was up by a whopping 56.5%, raking in a total of $1.051 billion. But even though downloads fell, they still beat out streaming revenues by $.072 billion.
Many important factors were at play to have such a game-changing year. Two major shifts included rises in income from their songwriter and composer-focused division Universal Music Publishing Group and “merchanding and other.”
Music Business Worldwide also noted that a favorable Euro-to-Dollar exchange rate significantly improved UMG’s 2015 numbers, as North America contributed to 41% of their total business last year. Artists on Universal Music Group include Adele, Taylor Swift, Kanye West and more.