Universal Music have cited Drake‘s ‘If You’re Reading This It’s Too Late’ and Kendrick Lamar‘s ‘To Pimp a Butterfly’ as major driving forces behind their continued success this year.
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Vivendi, parent company of Universal Music Group and the Canal+ film and television group, released its first-quarter earnings today, seeing 7.5 percent revenue growth over Q1 last year, to €2.49 billion ($2.69 billion).
UMG saw revenues grow by 2.3 percent on a constant currency basis, from €984 million ($1.35 billion) in the corresponding period last year to €1.09 billion ($1.22 billion). It’s the third year of Q1 revenue growth for the major.
Vivendi cites four albums released in the quarter as notable performers — the soundtrack to Fifty Shades of Grey, Drake’s If You’re Reading This It’s Too Late,Kendrick Lamar’s To Pimp a Butterfly and Madonna’s Rebel Heart, as well as carryover sales from Sam Smith and Taylor Swift.
This year will see the company churn out new releases by the likes of Elijah Blake, Iggy Azalea and Island star Justin Bieber.