Gains in subscribers and cost control measures helped gross profit margin almost double to 27.2%, the company said.
"Merchants of garbage," live music spending, rosy outlooks and more.
The concert promotion and ticketing giant posted third-quarter revenue of $8.2 billion, up 32% from the prior-year period.
In Quality Control's second full quarter with HYBE, the hip-hop label accounted for 19% of HYBE's streaming revenue.
Additional subscription price increases are expected in 2024, said CEO Denis Ladegaillerie.
The radio company did see a 13% rise in podcasting revenue as it anticipates an overall recovery in the ad market later this year.
Subscriptions remain strong, and “music is highly undervalued,” according to Deezer CEO Jeronimo Folgueira.
The iPhone maker's services business, which includes Apple Music, hit $21.2 billion in the quarter.
Artificial intelligence "will rapidly be available to elevate the quality of the music," said CEO Denis Ladegaillerie while delivering midyear earnings.
UMG also reported publishing revenues rose nearly 35% on the year.
