Universal Music Group’s Market Debut A Resounding Success

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Universal Music Group’s market debut was a hit with investors on Tuesday with optimism about the future of steaming music. Shares jumped nearly 40% to almost $ 26 per share when traded on the Euronext Amsterdam exchange.

Universal Music Group’s market debut was a hit with investors on Tuesday with optimism about the future of steaming music.

Shares jumped nearly 40% to almost $ 26 per share when traded on the Euronext Amsterdam exchange.

Universal has a huge roster of stars including Taylor Swift, Billie Eilish, Lady Gaga, The Beatles, and Bob Dylan. Universal owns the rights to this huge catalog of hits and with the pandemic hitting the music industry hard, it has always thrived as music spreads to other platforms like Spotify, YouTube, and TikTok.

Part of Universal’s business stems from the rights attached to its huge catalog, and it also collects royalties for the artists it represents on social media platforms.

The studio was recently separated by its parent company, Vivendi of France. Vivendi shareholders hold 60% of the capital of the new independent label. The conglomerate has said it wants to focus on other areas of its business.

The Associated Press


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