The German promoter and ticketing company has "healthy organic growth," says CEO Klaus-Peter Schulenberg.
For the first time since its 2016 founding, music contributed more revenue than social entertainment at TME.
With physical sales down 2%, streaming grew its total recorded music revenue share to 69% on the quarter.
The radio company did see a 13% rise in podcasting revenue as it anticipates an overall recovery in the ad market later this year.
Recorded music revenue rose nearly 8%, thanks to a strong slate of releases led by Ed Sheeran, Linkin Park and Melanie Martinez.
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.
Revenue at the concert promotion giant hit $5.6 billion, generating earnings per share of $1.02.
Universal reported subscription revenues in its recorded music department rose 10.6% in the second quarter.
The music giant hit $2.94 billion in the second quarter, thanks in part to a 10.6% year-over-year increase in subscription revenue.
