UMG and WMG, streaming 2.0 consequences
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.… As we have previously noted , the markets are highly sensitive to the majors’ performance in terms of streaming revenue. Spotify posted growth of over 14 per cent over the same period, but the music giant has long since diversified its content and therefore no longer pays out as much to the major record labels. The two growth…