Universal Music Group NV, the record label for artists such as Taylor Swift and Billie Eilish, reported sales that topped analysts’ estimates in the fourth quarter, boosted by growth from subscriptions.

Universal Music Group has reported its financial results for 2024. Revenue of €11.83 billion represented a year-on-year increase of 7.6% in constant currency, driven by growth across all segments (all figures will be stated in constant currency).

The record label behind Taylor Swift posted revenue of €3.44 billion, beating analyst forecasts of €3.27 billion.