Universal Music Group shares surge on stock market debut

The business behind singers such as Lady Gaga and Taylor Swift is betting that a boom in streaming that has fuelled revenues and profits still has a long way to run, in an industry it dominates along with WarnerUniversal, whose other hit singers include Justin Bieber and Taylor Swift, hopes to build on deals with ad-supported sites such as TikTok and YouTube as well as streaming services such as Spotify.

Part of its business derives from the rights attached to its hefty catalog, and it also collects royalties for the artists it represents across social media platforms and in far-flung places. The COVID-19 pandemic hit live concerts and Universal's merchandising business, but ad-supported revenues have picked up after a blip.

Its flotation carries high stakes for Canal+ owner Vivendi, which hopes in the longer run to rid itself of a conglomerate discount which it believes has weighed on its shares.Our Standards:Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.

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 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 »

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 Approaches $46 Billion Valuation Following IPOShares in Universal Music Group surged by more than a third in the first minutes of trading on Tuesday, following an initial public offering (IPO). Ten minutes into the trading session, shares were…
Source: Variety - 🏆 108. / 63 Read more »

Don Omar Strikes Multi-Year Partnership With Saban Music GroupAward-winning reggaeton legend DONOMAR has signed a groundbreaking multiyear partnership with Saban Music Group. DONOMAR I’m still unsigned DONOMAR Go go Don Omar! DONOMAR 🤴
Source: billboard - 🏆 112. / 63 Read more »

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

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