Universal Music Group reported a revenue increase of over 13% year-over-year, reaching $3.77 billion in the second quarter. This growth was primarily driven by an acceleration in subscriptions and streaming. Revenue from these segments climbed 15.4% at constant currency to €1.76 billion.

This marks an acceleration from the 11% growth seen in the first quarter, indicating a renewed momentum in digital music consumption. While growth in subscriptions and streaming had previously cooled after a pandemic-induced surge, it remains a crucial area for investors, forming the largest portion of the company's recorded music business revenue.

The company's performance exceeded analyst expectations, which had forecast €3.27 billion in revenue. The strong showing in streaming and subscriptions underscores their continued importance in the music industry's financial landscape.