Universal Music Approaches $46 Billion Valuation Following IPO

© Michael Buckner for Variety

Shares 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 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 (€39 billion).

More from Variety

  • Universal Music Group Valued at $39 Billion Before Tuesday’s IPO
  • What Can We Expect From Universal Music Group’s $40-Billion-Plus IPO on Tuesday?
  • Bill Ackman’s Pershing Square Acquires Another 2.9% of Universal Music Group for $1.15 Billion

As the world’s largest label group, not to mention the second largest music publisher (according to Music & Copyright), 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.”

While the stage for the IPO was set with industry rumblings in 2018 and continued with Chinese media giant Tencent’s acquisition of 20% of the company (and billionaire Bill Ackman’s acquisition of 10% last month), the company’s spinoff from parent Vivendi could not have asked for a more inviting welcome mat than this week’s robust mid-year report from the Recording Industry Assn. of America, which reported 27% improvement over revenue in the first six months of 2021 — a year-over-year number strongly influenced by the pandemic — which essentially promises a seventh straight year of global 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.

Click here to read the full article.

Internet Explorer Channel Network
News Related

OTHER NEWS

Pathfinder, Starfinder publisher voluntarily recognizes workers' union

© Image: Paizo Tabletop role-playing game publisher Paizo will voluntarily recognize its workers’ union, the company said on Thursday. The announcement comes less than one week after workers at the ... Read more »

Marvel almost forced a completely different Civil War ending

© Provided by GamesRadar Robert Downey Jr. in Captain America: Civil War Captain America: Civil War almost had an entirely different ending. In the new MCU book The Story of ... Read more »

Tchia is GTA meets Ghibli, set on a south Pacific island

© Provided by GamesRadar Tchia When Tchia first caught our eye, it was at September’s PlayStation Showcase. And given that context, it seemed all too fitting that the game’s trailer ... Read more »

GTA Trilogy release date confirmed via the Rockstar Store

© Provided by GamesRadar GTA The GTA: The Trilogy release date has been confirmed via Rockstar’s store page. The store page for the remastered trilogy – which features updated versions ... Read more »

What 'Dune' Author Frank Herbert Said About the 1984 David Lynch Adaptation (Flashback)

© Universal Pictures Dune, the new star-studded epic from Denis Villeneuve, is getting positive reviews and praise for its visual interpretation of Frank Herbert’s science fiction classic. Before the author ... Read more »

How to unlock Volundr – Fine Raven in Assassin's Creed Valhalla Discovery Tour: Viking Age

© Provided by GamePur Assassin’s Creed Valhalla Discovery Tour: Viking Age adds loads of new cosmetic items for you to unlock and collect to use in the base game. However, ... Read more »

How to make an automatic sugar cane farm in Minecraft

© Provided by GamePur Undoubtedly, one of the best parts of Minecraft is the endless creativity you can have with redstone. While a lot of redstone wiring is dedicated to ... Read more »

Families start to visit cemeteries ahead of Undas closures

© Danny Pata People flock to Manila North Cemetery on Wednesday, Oct. 28, 2020 to visit the tombs of their departed loved ones. As part of measures to prevent the ... Read more »

Omega defeats top seed Blacklist, books ticket to upper bracket finals

Photo: Screenshot of Mobile Legends Bang Bang/Youtube Omega Esports avenged their regular season losses to top seed Blacklist International as they scored a 3-1 win to book a ticket into ... Read more »

Forza Horizon 5 file size is upwards of 100GB as pre-loads go live

© Provided by GamesRadar Forza Horizon 5 The Forza Horizon 5 file size has been revealed, as pre-load for the game goes live across Xbox consoles and PC. Forza series ... Read more »

COLUMN: No point debating NBA Top 76 list. Here's why

© Provided by SPIN.ph CHICAGO – I have little affinity for anything called a “list.” I tend to diminish one, not finish it. Take for example the grocery list my ... Read more »

TNT downs Magnolia anew, goes up 2-0 in PBA finals

Photo: PBA Images The TNT Tropang Giga picked up where they left off, beating the Magnolia Pambansang Manok Hotshots in Game 2, 105-93, to gain a commanding 2-0 lead in ... Read more »

Piers Morgan Out at ITV's ‘Life Stories' After 12 Years

© TheWrap Piers Morgan British television host and provocateur Piers Morgan announced Thursday he is departing ITV’s “Life Stories.” “BREAKING NEWS: I’m quitting Life Stories after 12 years and 100 ... Read more »

'Dune' Director Denis Villeneuve Talks Sandworms And IMAX Screens

© Provided by CinemaBlend Dune director Denis Villeneuve in a shot from an interview on ReelBlend Dune (starring Timothée Chalamet, Rebecca Ferguson, Oscar Isaac, Zendaya) is finally here. Director Denis ... Read more »

Adele calls divorce her 'biggest ever risk'

© Bang Showbiz Adele Adele says her divorce from Simon Konecki was her “biggest risk”. The ‘Easy on Me’ hitmaker – who announced their breakup in April 2019 after a ... Read more »

Prince Philip 'would have urged the Queen to relax a bit' amid health issues

© Bang Showbiz Prince Philip and Queen Elizabeth Prince Philip would have urged Queen Elizabeth to “relax a bit” amid her health issues, according to royal experts. The British monarch ... Read more »

'Horrifying': Halyna Hutchins killed after prop gun misfire; Joe Manganiello, more pay tribute

Cinematographer Halyna Hutchins died Thursday in New Mexico after Alec Baldwin discharged a prop firearm on the set of “Rust,” authorities confirmed. She was 42. After receiving calls of a ... Read more »

What we know about the deadly shooting on Alec Baldwin's movie set of 'Rust'

While filming his upcoming film “Rust” on Thursday, Alec Baldwin discharged a prop firearm that killed the cinematographer and injured the film’s director in an on-set incident, authorities say. The ... Read more »

Brotherly Game Daily Links: Daniel Gazdag makes MLS Team of the Week

© Photo by Gregory Fisher/Icon Sportswire via Getty Images Philadelphia Union News Curtin, Gazdag rue Union’s defensive mishaps as big clash with Nashville looms “I chalk up tonight to turnovers ... Read more »

One of NYC's Most Charming Cheese Shops Expires — and More Closings

© Robert Sietsema/Eater NY The “Green Machine” sandwich at Barnyard Cheese Shop had pesto, artichokes, goat cheese, spinach, and cheddar. More than one year after New York’s first indoor dining ... Read more »

Kobe Paras held to six points as Niigata gets blown out by Mikawa

Photo: B.LEAGUE Niigata Albirex BB struggled to put points on the board as they were blown out by the Seahorses Mikawa, 81-58, in Japan Professional Basketball League (B.League) action on ... Read more »

Carrie Underwood can't stand her husband's collection of 'dead things on the walls'

© Bang Showbiz Mike Fisher and Carrie Underwood Carrie Underwood gets frustrated with her husband’s belongings cluttering up their home. The ‘Love Wins’ singer has revealed what really grinds her ... Read more »

'We are all swooning': Quincy Arts Association opens first gallery space downtown

QUINCY — After years of waiting, the Quincy Art Association has opened its first public gallery. © Greg Derr/The Patriot Ledger A pen-and ink-drawing by Christopher Myers, of Quincy, shows the ... Read more »

Celebrities And Fans Show Support For Céline Dion After Seeing Her Heartbreaking IG

Céline Dion is in everyone’s thoughts after she shared her latest health update. In May, the 53-year-old Grammy-winning singer announced that she was returning to Las Vegas with a new ... Read more »

Ozzy and Sharon Osbourne's love story biopic in the works!

© Provided by WION Ozzy and Sharon Osbourne’s romance is heading to the big screen now! The epic love story of rocker Ozzy Osbourne and manager and personality Sharon Osbourne ... Read more »

Breaking down the Rock & Roll Hall of Fame's Class of 2021

CLEVELAND, Ohio – The Rock & Roll Hall of Fame’s Class of 2021 is one of the most loaded in history. So much so, you might actually forget everyone who ... Read more »

Coldplay concert tickets: Where to buy, prices, 2022 tour schedule, opening acts

Following the release of their album “Music of the Spheres,” Coldplay is launching a world tour that shares a name with the new 12-track record in summer 2022. © Aristide ... Read more »

U.S. Girls Sample Glenn Gould on New Song “Good Kinda High”: Listen

© U.S. Girls’ Meg Remy, photo by [Drew Reynolds](https://www.drewreynolds.com/) U.S. Girls’ Meg Remy, photo by Drew Reynolds U.S. Girls’ Meg Remy has released a new song called “Good Kinda High” ... Read more »

It's 'Lit'! Kim Kardashian's Kids Throw Her a 41st Birthday Party

Best birthday! Kim Kardashian’s kids helped her celebrate her 41st year on Thursday, October 21. © Anthony Harvey/Shutterstock Kim Kardashian Kim Kardashian’s Greatest Quotes About Motherhood Read article “The party ... Read more »

Welcome to Austin, F1 fans. Here's what to do, eat and see in the city during your visit.

If you’re visiting Austin from out of town for this weekend’s Formula One events, don’t limit your experience to the racetrack. Here’s a handy guide on what to do, eat, drink ... Read more »

At 85, Gospel star Bill Gaither and his vocal band coming to Michigan City

MICHIGAN CITY — The Road To Life Church, at 7056 W. County Road 450 North, will host popular gospel music singer and songwriter Bill Gaither and his Gaither Vocal Band in concert at 7 p.m. Central time Nov. ... Read more »

Nintendo delays its Advance Wars remaster to spring 2022

© Image: Nintendo A screenshot from Advance Wars 1+2: Re-Boot Camp. Nintendo has delayed its upcoming remaster of the first two Advance Wars games. Advance Wars 1+2: Re-Boot Camp had ... Read more »

System of a Down Postpone L.A. Stadium Dates After Singer Serj Tankian Tests Positive For COVID-19

Serj Tankian of System of a Down System of a Down were forced to postpone their two planned hometown shows this weekend at Banc of California Stadium after singer Serj ... Read more »

Publishing Briefs: WCM Signs Jhené Aiko & Elvie Shane; Emeli Sandé Finds Reservoir

Jhené Aiko Warner Chappell Music has signed a co-publishing deal with Grammy-nominated artist Jhené Aiko. The deal includes all songs created by Aiko from January 2021 until the deal’s end, ... Read more »

How U.K. Touring Is Struggling to Keep On Truckin'

LONDON — In April 2022, when Ed Sheeran begins his + – = ÷ x shows — which he’s calling the Mathematics Tour — dozens of trucks from the U.K. ... Read more »

Will Iran's Censorship, Looming Internet Shutdown Dash Mehdi Rajabian's Grammy Chances?

Mehdi Rajabian Iranian composer and musician Mehdi Rajabian would like nothing more than to be nominated for a Grammy. But the Iranian government’s plans to shut down communications to the outside ... Read more »

TNT continues to sizzle in PBA finals, takes 2-0 lead vs Magnolia

© The Manila Times Troy Rosario (left) of TNT goes up against Calvin Abueva of Magnolia in Game Two of the PBA Philippine Cup finals on Friday at the Don ... Read more »

First look at Brian Epstein and Cilla Black in new biopic shot in Liverpool

The first images have been revealed from the new Brian Epstein film, Midas Man. Jacob Fortune-Lloyd has been cast as the ” fifth Beatle ” in the biopic of the ... Read more »

Selma Blair Reflects on Having Her Son Arthur Shave Her Head Ahead of Stem Cell Transplant (Exclusive)

© ET Selma Blair is sharing her journey with multiple sclerosis (MS) in her new documentary, Introducing, Selma Blair. The neurological disease is something the 49-year-old actress has been battling ... Read more »

Dove Cameron on Keeping Her Love Life Private and What She's Learned On Tour (Exclusive)

© etonline Dove Cameron has had a change of heart about openly discussing her love life. ET spoke to the 25-year-old “LazyBaby” singer, and she revealed why she’s decided to ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic