Universal Music Logs Slower Subscriptions and Streaming Growth

Universal Music Group posted higher revenue for the third quarter as physical sales jumped, while growth in subscriptions and streaming services decelerated.

The record label behind Taylor Swift reported revenue of 3.02 billion euros ($3.50 billion) for the three months through September, up more than 10% on year at constant currency. Analysts had forecast revenue of 2.92 billion euros, according to consensus estimates by Visible Alpha.