Tag: $Universal Music Group

Shares in Universal Music rose on Friday after the record label behind Taylor Swift posted subscription revenue growth that was ahead of consensus estimates.

Universal Music Group NV, the world’s largest record label, expanded its global partnership with Amazon.com Inc’s premium music service to boost fan engagement and fraud protection 

Universal Music Group said on Tuesday it expects annual core profit growth of more than 10% through to 2028 on higher subscription revenue, expanded partnerships and boosted by the superfans of its artists such as Taylor Swift, BTS and Drake.

 Universal Music Group (UMG), the world’s biggest music label, announced on Monday an expanded agreement with Facebook-parent Meta Platforms to create new opportunities for its artists and songwriters across Meta’s social platforms.

Universal Music Group  on Thursday reported first-quarter earnings that comfortably beat expectations, helped by the record-breaking success of its star act Taylor Swift.

Universal Music Group, the record label for top music artists including Taylor Swift and Drake, struck a new licensing agreement with TikTok, putting an end to a spat between the two companies.

Universal Music Group will cut jobs and streamline operations to save 250 million euros ($271.03 million) by 2026, the company said on Wednesday, a month after a lucrative licensing deal with social media platform TikTok expired.

Universal Music Group on Tuesday said it would buy a 25.8% stake in Chord Music Partners for $240 million in a deal that will see investment company KKR exit from the capital of the music catalogue owner.

Universal Music Group said on Wednesday that it will cease licensing its music to TikTok and accused the short video giant of bullying and intimidation in its contract negotiations.

Shares of Universal Music Group surged in early European trading Thursday after the record label behind the Weeknd, Billie Eilish and Taylor Swift posted revenue growth ahead of analysts’ expectations for the second quarter, marked by the return of growth in streaming.