Lucian Grainge and other UMG execs discussed with analysts where future revenue growth would come from as the music giant releases fourth quarter results.

Universal Music Group posted strong results from 2024 in earnings announced Thursday, with a 6.5% rise in revenue over 2023 and an 8.2% increase in recorded music subscription revenue (despite a 5.1% drop in streaming revenue from last year),

The record label behind Taylor Swift posted revenue of €3.44 billion, beating analyst forecasts of €3.27 billion.