In the second quarter of 2026, ending 30 July, Universal Music Group reported streaming revenue growth of 5.6 per cent, whilst Warner Music Group’s rose to 11.3 per cent. The major’s figures were published in early August. The difference is by no means a mere accounting anomaly. It stems from a combination of technical factors, commercial dynamics and base size, which do not work in the same way for the two majors.…
