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Universal Music reports 19% rise in 2021 core earnings -Breaking


© Reuters. A building in Zurich (Switzerland) displays the logo for Universal Music Group (UMG). It was taken July 20, 2021. REUTERS/Arnd Wiegmann

AMSTERDAM, (Reuters) – Universal Music Group NV, the record label that is behind so many music’s most famous stars, reported on Thursday a 19% increase in its full-year core earnings. They also forecast a strong 2022, with increasing revenue from streaming and ad-supported platforms.

UMG’s adjusted earnings prior to interest, taxes and depreciation (EBITDA), was 1.79 Billion euros ($1.98 Billion) compared with 1.50 Billion euros in 2020.

According to Refinitiv data, 2021 EBITDA was forecast at 1.78 Billion Euros by analysts.

($1 = 0.9050 euros)

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