Universal Music Looks to Subscriptions, Superfans for Fresh Growth
The record label behind Taylor Swift, Billie Eilish and Ariana Grande is betting on streaming subscriptions, superfans and partnerships as it forecasts higher revenue and earnings growth through the end of 2028. Universal Music Group executives laid out a vision for the future of music streaming Tuesday in which more customers pay for premium ad-free streaming, audio services continue to attract new subscribers globally and superfans pay more for special features like early access to new music or high-resolution audio and fan experiences. The world’s largest music company forecast a compound annual growth rate for revenue at constant currencies of more than 7% through 2028, with subscription revenue growing 8% to 10%.