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In 2024, Universal Music Group generated billion euros in revenue, up from billion in the previous year. UMG is the largest record company worldwide and parent company Vivendi's most profitable business segment.

Universal Music Group sets the tone

Universal Music Group (UMG) is the leading record label in the world, boasting an impressive roaster of sub-labels and artists from more than ** countries. According to the company's most recent financial statements, recorded music remains UMG's most lucrative business segment, generating higher revenue streams than music publishing and merchandising combined. Universal was the label with the highest share in the recorded music market worldwide in 2022, accounting for roughly ** percent of combined physical and digital music trade revenue that year. Meanwhile, revenue generated from Universal Music Group's music publishing segment surpassed *** billion U.S. dollars for the first time, reaching **** billion U.S. dollars globally in 2024. 

Record labels: the best things come in threes

Universal Music Group is the largest of the so-called “Big Three” record labels in the United States, followed by Warner Music Group and Sony Music Group. Together, these companies make up the lion's share of the global music publishing market, although independent labels also carve out impressive slices of the industry pie each year. As of 2022, * of the * major label groups, Universal and Warner, have sold company shares to Tencent Music Entertainment Group, the music streaming arm of Chinese technology and entertainment giant Tencent Holdings.