Music Business Worldwide reports: “Over the summer, Bill Ackman’s Pershing Square predicted that Universal Music Group “can grow revenues at an annual rate of 10% or so for more than a decade”. Right now, Universal is meeting that challenge. UMG published its financial results for the three months to end of September today (October 27). The company posted Q3 revenues of EUR €2.664 billion (USD $2.68bn) across all of its divisions (including recorded music, publishing and more). That Q3 revenue figure was up 13.3% YoY at constant currency, driven by growth across all revenue segments.”
