Universal Music Group Reports Q3 Revenue of $3.78 Billion

• Universal Music Group reported $3.78 billion in revenue for Q3.
• Revenue growth of 11.7% was driven by subscription streaming, margin improvement, and integration of Downtown Music Group.
• Subscription streaming revenue contributed 1.81 billion euros to the total revenue.
• CEO Lucian Grainge called for DSPs to pay less for AI-generated music.
• The company's revenue grew by 5.3% excluding the Downtown acquisition.