Resurgence of vinyl records sees revenues rise at Irish arm of Universal Music 

Revenue's at the Irish arm of the world's largest record label increased to €31.7m in 2023

Hozier, who is signed to UMG's Island Records subsidiary (Photo by Juan Pablo Pino / AFP) (Photo by JUAN PABLO PINO/AFP via Getty Images)

The revival of vinyl records and continued positive growth in subscribers to legal streaming platforms were key drivers of rising revenue at the Irish arm of Universal Music Group, which increased by more than 15% in 2023. 

Newly filed accounts by Universal Music Ireland Ltd show revenue at the company rose to €31.7m in the twelve months ending in December 2023, up from €27.3m in the previous year.