UNIVERSAL U.K. UP 9% IN 2017

Revenues for Universal Music U.K. rose 8.8% in 2017 to £344.33m ($460m), driven by an increased demand for streaming services and the timing of new releases, the company stated in its annual report.

Sales hit £188.8m while royalties brought in and £155.5m, according to figures first reported by Music Week. The gross profit margin increased slightly to 31%. Artist advances of £34.86m were paid out in 2017.

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UNIVERSAL U.K. UP 9% IN 2017

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