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Universal Music Group

Universal Music Earnings Rise, Helped by BTS and Olivia Rodrigo

Universal Music Group reported higher revenue and earnings for its second quarter on Wednesday amid growth across its businesses, including its recorded music unit, which benefited from releases from the likes of BTS and Olivia Rodrigo. The music major, led by chairman and CEO Lucian Grainge, was spun off by French telecom and media conglomerate […]

‘Encanto’ Soundtrack, The Weeknd, King & Prince Boost Universal Music Earnings

Universal Music Group reported higher revenue and earnings for its first quarter on Tuesday amid growth across its businesses, including its recorded music unit, which benefited from the Encanto soundtrack, as well as releases by the likes of The Weeknd and Japanese idol group King & Prince. In the fall, French telecom and media conglomerate […]

Universal Music Group Nominates Nicole Avant, Sherry Lansing as New Board Members

Universal Music Group has nominated Nicole Avant, Sherry Lansing, William Ackman and Cyrille Bollore to join its board of directors. The music giant, eyeing new strategic advice from the streaming arena, put forward its names ahead of an annual shareholders meeting in Amsterdam on May 12. As the largest music publisher, UMG derives significant cash […]

‘Sweet Caroline’ Songwriter Neil Diamond Sells Song Rights to Universal Music

Seems Neil Diamond is a believer … in cashing in his song rights. The legendary singer-songwriter has signed a deal to hand over rights to his entire song catalog, as well as all recordings, to Universal Music Group (UMG) for an undisclosed sum. The deal, announced by Diamond and UMG on Monday, includes master and […]

Sting Sells Song Catalog to Universal Music Publishing

Universal Music Publishing Group has acquired Sting’s entire song catalog, which includes rock classics from The Police frontman like “Roxanne,” “Every Breath You Take” and “Message in a Bottle.” Financial terms of the deal with part of Vivendi’s Universal Music Group were not disclosed. But the agreement encompasses copyrights spanning Sting’s career, the music major said, […]

Hedge Fund Titan Bill Ackman Buys $1.1B in Netflix Stock: “We Are All-In on Streaming”

Pershing Square Capital Management founder Bill Ackman told shareholders Wednesday that his firm has been scooping up shares in streaming giant Netflix, making his firm one of the top 20 shareholders in the company. Ackman said that his firm has purchased 3.1 million Netflix shares so far, which would be worth more than $1.1 billion, […]

Judge Dismisses Ousted UMG Exec Charlie Walk’s Lawsuit Against Former Attorney

A New York state judge tossed a lawsuit on Tuesday brought by ousted Universal Music Group executive Charlie Walk against New York attorney Marc Kasowitz for allegedly botching negotiations over his departure after being accused of sexual harassment. New York Supreme Court Justice Andrew Borrok, granting Kasowitz’s bid to dismiss the case, said Walk’s complaint […]

Music Majors Up, Spotify Down: Audio Entertainment Stocks Dance to Their Own Beat

This past year was a cacophony for audio entertainment stocks. Universal Music Group saw a strong market debut and Warner Music saw a run-up in shares — then analysts grew cautious on both stocks. Meanwhile, SiriusXM was mostly flat and Spotify dropped before finding its rhythm later in 2021. While the growth in music streaming […]

Vivendi CEO Wants to “Create a Kind of European Disney”

“I admire Disney,” Vivendi CEO Arnaud de Puyfontaine said on Tuesday. And he shared that if asked “what I wish Vivendi to become,” his vision was clear: “to create a kind of European Disney-type of company.” Speaking at the Paley Center’s Paley International Council Summit in a session that was live streamed, the head of […]

Billie Eilish, Drake Help Universal Music Earnings Rise in First Report Since Spinoff

Universal Music Group posted higher revenue and earnings for its third quarter on Wednesday amid growth across its businesses, including its recorded music unit, which benefited from new releases by Billie Eilish and Drake. In its first earnings report since its spinoff from French telecom and media conglomerate Vivendi in late September, the music major, […]

Canal+, Ad Unit Havas Drive Vivendi Third-Quarter Revenue Growth

Driven by pay TV unit Canal+ Group and advertising giant Havas, French media and telecommunications conglomerate Vivendi reported a 14.1 percent increase in its third-quarter revenue, or 10.3 percent when using constant currencies and focusing on the businesses that the company owns now. That brought revenue for the period to 2.48 billion euros ($2.89 billion). […]

Universal Music Group Stock Jumps in Market Debut

Universal Music Group’s shares jumped in their stock market debut on Amsterdam’s Euronext exchange on Tuesday. As of 9:10 a.m. Amsterdam time, the stock was trading at 25.74 euros ($30.19), giving the company a market capitalization of 46.67 billion euros ($54.7 billion), after opening at 25.25 euros ($29.61) and going as high as 25.775 euros. […]