Universal Music Approaches $46 Billion Valuation Following IPO

surged by more than a third in the first minutes of trading on Tuesday, following an initial public offering .

Ten minutes into the trading session, shares were changing hands at €25.61 on the Euronext Amsterdam stock exchange. That is a 38% leap compared with the €18.50 figure that the group announced on Monday as its reference price. With the shares at this valued, the group has a market capitalization close to $46 billion .

As the world’s largest label group, not to mention the second largest music publisher , UMG’s assets are more than impressive. The company recently spent hundreds of millions of dollars investing in talent — most notably in its eye-popping $300 million acquisition of Bob Dylan’s publishing catalog — a move that turned out to be prescient. In fact, a JP Morgan report said: “We would be worried if UMG were not investing ahead of a decade of double-digit industry growth.

“Many had left the industry for dead a decade ago, especially with piracy and a lot of the issues facing the music industry,” says Daniel Ives, MD of equity research at Wedbush Securities. “Now they come out smelling like roses. When you look at Universal, Warner Music and overall streaming with Apple Music and Spotify, it’s been a massive turnaround that very few predicted would happen.”

Last year, the U.S. trade’s $12.2 billion accounted for more than half of the $21.6 billion global revenue reported by the International Federation of the Phonographic Industry, so the RIAA report sets the stage nicely for the world’s largest music company to step out from Vivendi, its parent since 2001, a move that allows investors a pure-play opportunity to capitalize on music’s momentum.

Entertainment Entertainment Latest News, Entertainment Entertainment Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Universal Music CEO Lucian Grainge Earned Almost $60M Last YearUniversal Music Group CEO Lucian Grainge earned $59 million in 2020, and will likely earn a more than $150 million bonus after the company goes public. Dawg couldn't secure anything for 6ix9ine tho😂 wack had to do everything smh How do we buy the stocks 😂😂😂 Great Sir Lucian 🙏🏻
Source: billboard - 🏆 112. / 63 Read more »

Universal Music valued around $39 billion ahead of stock market debutUniversal Music Group, the business behind singers such as Lady Gaga, Taylor Swift and The Weeknd, is valued at around 33.5 billion euros ($39.30 billion) ahead of the record label's stock market debut in Amsterdam on Tuesday.
Source: Reuters - 🏆 2. / 97 Read more »

Billboard Latin Music Week 2021
Source: billboard - 🏆 112. / 63 Read more »

Billboard Latin Music Week 2021
Source: billboard - 🏆 112. / 63 Read more »

First Stream Latin: Enrique Iglesias Returns With 'Final, Vol. 1' Album, Plus More New MusicFrom Enrique Iglesias to Tiago PZK, here are some of the best new Latin songs, albums and videos this week recommended by the Billboard Latin editors. ❤ Great 👍 KING ENRI 👑 Enrique Iglesias king 🤴
Source: billboard - 🏆 112. / 63 Read more »

Water music: London canal boat serves as floating concert hallWATCH: This 'Piano Boat' in London has been transformed into a concert hall. 'We only started less than two months ago and already our cruises are sold out for months,' says Rhiana Henderson, who is the manager of the project only Chinese Government do not trust their vaccines. because if they do, they'd let their vaccinated foreign students back. takeUsBackToChina SpokespersonCHN MFA_China cnnbrk CNN BBCWorld BBCBreaking WHO COVID19 Breakingviews China
Source: Reuters - 🏆 2. / 97 Read more »