United's revenues rose by 29.1 per cent to £98million for the first quarter of this financial year thanks to new sponsorship deals and the effect of the new Premier League TV rights deals.
Woodward said BT Sport's success in outbidding Sky and ITV to land the 2015-2018 Champions League rights would see clubs' incomes increase still further.
He said: "We are excited by the continuing rise in the value of sports content, evidenced, amongst other things, by the recently-announced BT deal for the UK rights to broadcast the Champions League and Europa League matches for three seasons from 2015-16.
"This deal represents a meaningful increase over the current arrangement, which should translate into higher broadcasting revenues for the participating clubs."
The Premier League deal has seen United's broadcasting income rise by 40.9 per cent, but even that has been outstripped by the club's growth in commercial income of 62.6 per cent with 12 new sponsorship deals including a global contract with Russian airline Aeroflot.
Woodward added: "We are pleased to have achieved another record first quarter, driven by the strength of our commercial business and increased broadcasting revenues.
"Our unique approach to the commercial business will continue to drive future growth."