By Leo Marchandon

(Reuters) -Universal Music Group on Thursday reported third-quarter revenue above market expectations with Taylor Swift’s new release boosting physical album sales.

The world’s biggest music label, which also counts South Korean boy band BTS in its portfolio, said quarterly revenue grew 5% year-on-year to 3 billion euros ($3.5 billion), topping the 2.95 billion average analyst forecast provided by LSEG.

Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 7% to 594 million euros.

Streaming and subscription, which account for more than half of UMG’s income, only grew around 2% to 1.52 billion euros. Income from streaming platforms shrank by 5% as consumers shifted to less profitable platforms, the company said, without giving further de

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