The 3 major labels generated $2 million per hour last year

Universal Music Group, Sony Music Group, and Warner Music Group generated $20.28 billion in annual revenues in 2021, which is the equivalent of turning over around $2.3 million every hour, MBW reports. Warner generated $5.58 billion across its global music publishing and recorded music divisions in calendar 2021, Sony generated $7.49 billion, whereas Universal generated $7.21 billion in just the first nine months of 2021 – not including Q4.