Universal Music Group (UMGNF) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.979 CEO of Universal Music Group, and Matt Ellis, Chief Financial Officer. 00:00:04.979 -- 00:00:09.626 They'll be joined during Q&A by Michael Nash, Chief Digital Officer, and Boyd Muir, Chief 00:00:09.626 -- 00:00:11.569 Operating Officer. 00:00:11.569 -- 00:00:15.154 All lines have been placed on mute to prevent any background noise. 00:00:15.154 -- 00:00:18.900 After the speaker's remarks, there'll be a question and answer session. 00:00:18.900 -- 00:00:22.425 If you'd like to ask a question during this time, simply press star followed by the number 00:00:22.425 -- 00:00:26.772 one on your telephone keypad. If you'd like to withdraw your question, please press star 00:00:26.772 -- 00:00:28.702 followed by two. 00:00:28.702 -- 00:00:31.405 As a reminder, this call is being recorded. 00:00:31.405 -- 00:00:34.888 Please also let me remind you that management's commentary and responses to questions 00:00:34.888 -- 00:00:39.413 on today's call may include forward-looking statements, which by their nature are uncertain 00:00:39.413 -- 00:00:41.996 and outside of the company's control. 00:00:41.996 -- 00:00:45.159 Although these forward-looking statements are based on management's current expectations 00:00:45.159 -- 00:00:49.584 and beliefs, actual results may vary in a material way. 00:00:49.584 -- 00:00:53.207 For a discussion of some of the factors that could cause actual results to differ from 00:00:53.207 -- 00:00:58.857 expected results, please see the Risk Factors section on UND's 2024 Annual Report 00:00:58.857 -- 00:01:04.542 which is available on the investor relations page of UMG's website at universalmusic.com. 00:01:05.266 -- 00:01:09.512 Management's commentary will also refer to non-IFRS measures on today's call. 00:01:09....