Vivendi reported first-quarter financials for Universal Music Group. The label generated €1.769 billion in revenue, up 12.7% on-year in constant currency. Actual growth for the period was 17.8%. Continue Reading
A streaming music app co-owned by Sony Music and Universal Music is adding a free tier. The labels operate NOW That’s What I Call Music! brand, which includes the NOW Music app for both iOS and Android mobile devices in the UK. The app now offers a free, ad-supported counterpart to its usual mid-tier subscription of £4.99 per month. Continue Reading
Universal Music Group posted strong financial results for its 2019 fiscal year. Parent company Vivendi also used the earnings announcement to share some developments for the label. Not only is UMG getting a group of new partial owners, but it is also the latest music business to be targeting an IPO. Continue Reading
Vivendi has reportedly been in discussions with Tencent for several months to develop a deal for the Chinese conglomerate to acquire a stake of Universal Music Group. But even as the discussions drag on, there’s still plenty of uncertainty around whether an agreement will come together. Continue Reading
Tencent and Vivendi have been making gradual progress toward a deal to see the China-based company acquire a stake of Universal Music Group. Even before the sale is a done deal, it already has an opponent. Continue Reading
Tencent Holdings has been floated as a potential, even likely buyer for a stake in Universal Music Group. But the latest rumors indicate that while the Chinese company is still interested, it may want to make the investment with partners. Continue Reading
Vivendi has been looking for a buyer to take over up to 50% of Universal Music Group for several months, and the process has yielded interested parties. Now, the French conglomerate has officially entered talks with China’s Tencent Holdings for a deal around the major label. Continue Reading
Vivendi has released its financial results for the first half of 2019, including the latest financials for Universal Music Group. The major label saw recorded music revenue reach nearly €2.6 billion, up 22.4% from the first half of 2018. Continue Reading
Brief news items and worthy reads from around the web: Fire at UMG vault destroys thousands of master recordings. How to find better podcasts. Honoring advances for digital radio in cars. Continue Reading
Podcast group Wondery has entered a partnership with the Universal Music Group label. Under the terms of their agreement, Wondery will receive access to the major’s music catalog and will be able to use works from its artists and labels in new shows. Continue Reading
Universal Music Group’s quarterly earnings continued to grow on the back of a strong streaming performance. The label’s parent company, Vivendi, has released its first-quarter results as it moves ahead with plans to sell off a stake in UMG. Continue Reading
Universal Music Group has inked a licensing agreement with uduX, a streaming music service based in Nigeria. The deal will bring uduX listeners access to UMG’s catalog of Nigerian and international artists. UMG is the first major to sign with this service. Continue Reading