Universal Music Group N.V. (UMG) reported financial results for the first quarter ended March 31, 2026, with total revenue reaching €2.76 billion, an increase of 8.1% year-over-year on a constant currency basis. The growth was primarily driven by a 9.2% rise in subscription and streaming revenue, which totaled €1.89 billion.
Adjusted EBITDA for the quarter was €634 million, up 10.3% from the same period last year, with an adjusted EBITDA margin of 23.0%. Net income attributable to UMG shareholders was €347 million, compared to €312 million in Q1 2025.
Recorded music revenue grew 7.5% to €2.08 billion, while music publishing revenue increased 9.8% to €528 million. Merchandising and other revenue rose 8.2% to €152 million.
UMG's streaming revenue benefited from continued growth in paid subscription services across major platforms. The company also highlighted strong performance from its catalog and new releases, including albums from artists such as Taylor Swift, Drake, and BTS.
Looking ahead, UMG reaffirmed its full-year 2026 outlook, expecting mid-single-digit revenue growth and continued margin expansion. The company also announced a quarterly dividend of €0.25 per share, payable in June 2026.
