Excluding Downtown, whose results are consolidated from its acquisition date of February 20, revenue grew 6.4% YoY at constant currency. RECORDED MUSICUniversal’s overall Recorded Music revenue for the second quarter of 2026 was €2.516 billion ($2.93bn), up 16.2% YoY at constant currency. Excluding Downtown, Recorded Music revenue grew 8.7% YoY at constant currency. Excluding Downtown, Music Publishing revenue grew 2.7% YoY at constant currency. Mechanical revenue grew 3.6% YoY at constant currency to €29 million ($33.7m), “driven by release schedules”.