Universal Music Posts Nearly $11 Billion in 2022 Revenue as Company Expands Efforts for ‘New Streaming Model’

Universal Music Group posted booming results for 2022, with revenues soaring 21.6% to nearly $10.95 billion, driven by streaming and a strong performance from its recorded music and publishing divisions.

Click here to read the story at variety.com.

Discussion Questions:

1. Who is Universal Music Group?
2. What is revenue?
3. Why is revenue important to entertainment companies like Universal Music?
4. How do you think Universal Music Group generates revenue?
5. Why do you think revenues increased by such a significant percentage in 2022?
6. What is an “economic model”?
7. Why do you think UMG wants create a new economic model in streaming?
8. How might that model impact artists and songwriters?
9. How might it impact companies like Spotify or Apple Music?
10. How might it impact consumers? Be prepared to discuss your answers in class.