Universal Music Group N.v. · EURONEXT:UMG
Universal Music — Q1 2026 Earnings Presentation
12 slides from Universal Music's earnings presentation, Apr 29, 2026
Slide 1: Universal Music Group First Quarter Ended March 31, 2026
Universal Music Group First Quarter Ended March 31, 2026
Slide 2: Important Information
Universal Music Group Important Information Presentation The financial information included in this presentation is unaudited. Alternative Performance Indicators This presentation includes certain alternative performance indicators which are not defined in IFRS Accounting Standards issued by the Int
Slide 3: Sir Lucian Grainge
Universal Music Group Sir Lucian Grainge Chairman and Chief Executive Officer Universal Music Group
Slide 4: Matt Ellis
Universal Music Group Matt Ellis Chief Financial Officer Universal Music Group
Slide 5: Recorded Music – VMG Breakout
Universal Music Group Recorded Music – VMG Breakout Revenues 2023 2024 2025 CAGR 23-25 Recorded Music ex. Virgin Music Group 7,853 8,230 8,666 7.2% Virgin Music Group 608 671 790 16.1% Recorded Music 8,461 8,901 9,456 7.9% Adjusted EBITDA 2023 2024 2025 CAGR 23-25 Recorded Music ex. Virgin Music Gro
Slide 6: 1Q26 Consolidated Results
Universal Music Group 1Q26 Consolidated Results REVENUE ADJUSTED EBITDA ADJUSTED EBITDA MARGIN +8.1% +4.9%* +3.9% +3.4%* -0.9pp -0.3pp* € 2,901 € 2,900 € 661 € 636 22.8% 21.9% 1Q25 1Q26 1Q25 1Q26 1Q25 1Q26 Note: € in Millions; Revenue and Adjusted EBITDA growth shown in constant currency. *Revenue,
Slide 7: 1Q26 Recorded Music Revenue
Universal Music Group 1Q26 Recorded Music Revenue RECORDED MUSIC RECORDED MUSIC REVENUE BREAKDOWN REVENUE 1Q25 1Q26 +8.9% +5.4%* +12.5% +5.0% -5.6% +12.7% -3.6% +7.9%* +1.2%* -11.1%* +12.7%* -5.1%* € 2,241 € 2,253 € 1,303 € 339 € 310 € 267 € 34 Subscription Streaming Downloads & Physical License & 1
Slide 8: 1Q26 Recorded Music Adjusted EBITDA and Margin
Universal Music Group 1Q26 Recorded Music Adjusted EBITDA and Margin RECORDED MUSIC RECORDED MUSIC ADJUSTED EBITDA ADJUSTED EBITDA MARGIN +6.0% +5.3%* -0.6pp +0.0pp* € 575 € 565 25.7% 25.1% 1Q25 1Q26 1Q25 1Q26 Note: € in Millions; Adjusted EBITDA growth shown in constant currency. *Adjusted EBITDA a
Slide 9: 1Q26 Music Publishing Results
Universal Music Group 1Q26 Music Publishing Results MUSIC PUBLISHING MUSIC PUBLISHING MUSIC PUBLISHING REVENUE ADJUSTED EBITDA ADJUSTED EBITDA MARGIN +7.0% +4.3%* +11.6% +12.4%* +1.1pp +1.9pp* € 555 € 552 24.5% 23.4% € 130 € 135 1Q25 1Q26 1Q25 1Q26 1Q25 1Q26 Note: € in Millions; Revenue and Adjusted
Slide 10: 1Q26 Merchandising & Other Results
Universal Music Group 1Q26 Merchandising & Other Results MERCHANDISING & OTHER MERCHANDISING & OTHER MERCHANDISING & OTHER REVENUE ADJUSTED EBITDA ADJUSTED EBITDA MARGIN -1.9% -233.3% -6.3pp € 112 € 101 -€ 4 -3.6% -€ 10 -9.9% Axis Title 1Q25 1Q26 1Q25 1Q26 1Q25 1Q26 Axis Title Note: € in Millions; R
Slide 11: Matt Ellis
Universal Music Group Matt Ellis Chief Financial Officer Universal Music Group
Slide 12: Q&A
Q&A Sir Lucian Grainge Chairman & Chief Executive Officer Matt Ellis Chief Financial Officer Boyd Muir Chief Operating Officer Michael Nash Chief Digital Officer
Universal Music Group — Q1 2026 Earnings Presentation on 6ix