Universal Music Group (UMGNF) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.278 Good evening and welcome to Universal Music Group's second quarter and first half earnings 00:00:05.278 -- 00:00:09.621 call for the period ended June 30, 2025. 00:00:09.664 -- 00:00:13.589 My name is Drew and I will be your conference operator today. 00:00:13.589 -- 00:00:18.916 Your speakers for today's call will be Sir Lucian Grange, Chairman and CEO of Universal 00:00:18.916 -- 00:00:23.302 Music Group and Boyd Muir, Chief Operating Officer. 00:00:23.302 -- 00:00:28.304 They will be joined during Q&A by Michael Nash, Chief Digital Officer and Matt 00:00:28.304 -- 00:00:31.766 Ellis, Chief Financial Officer. 00:00:31.949 -- 00:00:36.176 All lines have been placed on mute to prevent any background noise. 00:00:36.176 -- 00:00:39.721 After the speaker's remarks, there will be a question and answer session. 00:00:39.721 -- 00:00:43.747 If you would like to ask a question during this time, simply press star followed by the 00:00:43.747 -- 00:00:48.534 number one on your telephone keypad. If you would like to withdraw your question, press 00:00:48.534 -- 00:00:51.158 star followed by the number two. 00:00:51.158 -- 00:00:54.976 As a reminder, this call is being recorded. 00:00:54.976 -- 00:00:59.602 Please also let me remind you that management's commentary and responses to questions 00:00:59.602 -- 00:01:04.868 on today's call may include forward looking statements, which by their nature are uncertain 00:01:04.868 -- 00:01:07.792 and outside of the company's control. 00:01:07.792 -- 00:01:11.576 Although these forward looking statements are based on management's current expectations 00:01:11.576 -- 00:01:16.242 and beliefs, actual results may vary in a material way. 00:01:16.242 -- 00:01:20.167 For a discussion of some of the factor...