Music companies reported mixed third-quarter results, with subscriber growth, touring and streaming revenue supporting performance even as executives focused on costs. The results cover the quarter ending Sept. 30, 2026, and the roundup is set to be updated as more companies report.

Spotify added 6 million net subscribers, one million more than its guidance, and reported 788 million monthly active users, up 11% year over year. Revenue rose 14% in constant currency to 4.97 billion euros ($5.63 billion), while subscription streaming revenue increased 15% to 4.5 billion euros ($5.08 billion). The company also reported record gross margins of 33% and higher free cash flow. Operating expenses reached 967 million euros ($1.1 billion), which Spotify attributed primarily to temporarily elevated marketing and cloud and AI spending.

Universal Music Group’s revenue grew 11.7% to 3.39 billion euros ($3.87 billion), or 5.3% excluding its Downtown Music Group acquisition. Subscription and streaming revenue rose 17.9% to 1.81 billion euros ($2.063 billion), with Downtown contributing 195 million euros to overall revenue. UMG said it is integrating Downtown and has also introduced further layoffs as part of a cost-cutting plan targeting 250 million euros in annual savings by the end of 2026.

HYBE reported revenue of 1.5257 trillion Korean won ($1.135 billion) and operating profit of 188.5 billion won ($140.35 million), its biggest financial quarter to date. The company said BTS’ ongoing world tour helped drive the result. Revenue from recorded music, concerts, appearances and advertising accounted for 70% of the quarter’s total.

At Madison Square Garden Entertainment, revenue rose 37% to $217 million, including a $30 million boost from concerts. A significant majority of concerts at its venues sold out, and spending on food, beverages and merchandise per concertgoer increased by double-digit percentages. Sixteen of Harry Styles’ 30 residency shows took place during the company’s first fiscal quarter.

Deezer said it remained on track for a third profitable year. Revenue increased 1% in constant currency to 133.8 million euros ($153.9 million), while subscriber revenue rose 6.4% to 94.1 million euros ($108.3 million). Subscriber growth in France helped, as the company continued to shift away from some lower-margin partnership deals toward direct subscriber relationships.

SiriusXM added 5,000 net subscribers and reported quarterly revenue of $2.153 billion, slightly lower due to reduced equipment revenue. Net income increased 6.7% to $317 million. Podcast advertising revenue rose 20%, helping offset weaker music advertising, while total advertising revenue was flat at $465 million. SiriusXM raised its 2026 forecasts for revenue, adjusted EBITDA and free cash flow for a second consecutive quarter.

The earnings also reflected ongoing pressure to manage spending. SiriusXM cut marketing costs amid stagnant revenue, while Spotify cited higher marketing and cloud and AI expenses. Sony Group, Sphere Entertainment Company and Warner Music Group were among the companies still expected to report results.

Sources: Billboard.