Universal Music Group posted an 8.1% year‑over‑year revenue rise for the quarter ended March, driven by a surge in subscription and streaming income. At constant‑currency terms the segment generated €1.64 billion, outpacing analysts’ 9.4% growth forecast. The performance reinforces the label’s position as the world’s largest music publisher, home to artists such as Lady Gaga and Taylor Swift.

UMG said it will double its share‑buyback programme, expanding the €500 million tranche to €1 billion. To fund the move, the company plans to monetize roughly half of its equity stake in Spotify, converting the asset into cash for repurchases. The larger buyback signals confidence in cash flow generation and aims to boost earnings per share.

Investors welcomed the stronger streaming metrics and the aggressive capital return, lifting UMG’s shares modestly in after‑hours trade. The move also tightens the label’s exposure to its Spotify holding, a strategic shift as the industry balances royalty structures with platform negotiations. Overall, the results underscore a profitable pivot toward subscription‑driven growth.

The expanded buyback, funded by the streaming windfall, could pressure earnings forecasts upward as fewer shares remain outstanding. Analysts may revise price targets, reflecting the company’s ability to generate cash without sacrificing growth. With streaming now accounting for the bulk of its revenue, UMG appears positioned to capitalize on the continuing shift from physical sales to digital consumption.