UNIVERSAL MUSIC GRP U/ADR - UNVGY STOCK NEWS

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Universal Music Group (UNVGY) is a global leader in music-based entertainment, shaping culture through artistry. With a diverse array of businesses engaged in recorded music, music publishing, merchandising, and audiovisual content, UMG boasts the most extensive catalog of recordings and songs across all musical genres.

Committed to fostering artistic innovation and entrepreneurship, UMG identifies and develops talent, producing and distributing critically acclaimed and commercially successful music worldwide. Recent achievements include entering a strategic partnership with Chord Music Partners, acquiring a 25.8% interest valued at US$240 million, building an impressive portfolio of premier music intellectual property from iconic artists.

UMG's Q4 2023 and FY 2023 results demonstrated robust financial performance, with revenue growing across all segments. Recorded Music, Music Publishing, and Merchandising and Other segments all exhibited strong revenue growth, contributing to an increase in EBITDA and Adjusted EBITDA.

The company's strategic organizational redesign aimed at enhancing artist and fan experiences, maximizing efficiencies, and driving long-term growth. By focusing on core creative capabilities, UMG aims to create unparalleled opportunities for artists and fans, while optimizing cost structures to achieve €250 million in annual run-rate savings by 2026.

02/20/2024 12:15 PM

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UNIVERSAL MUSIC GROUP ACQUIRES MINORITY STAKE IN CHORD MUSIC PARTNERS

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Universal Music Group (UMG) acquires a 25.8% stake in Chord Music Partners for $240 million, valuing Chord at $1.85 billion. UMG and Dundee Partners form a strategic partnership to manage Chord's music IP catalog, including works from iconic artists like The Weeknd and Lorde.

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01/30/2024 07:37 PM

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Universal Music Group Agreement with TikTok to Expire on January 31, 2024

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Universal Music Group N.V. (UMG) announces the expiration of its agreement with TikTok on January 31, 2024. The companies have not reached new terms, leading to UMG ceasing licensing content to TikTok and TikTok Music services. This decision is explained in an open letter to the artist and songwriter community.

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01/29/2024 11:45 AM

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Universal Music Group N.V. to Announce Financial Results for the Fourth Quarter and Full Year Ended December 31, 2023

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Universal Music Group N.V. (UMG) will release its financial results for Q4 and full year 2023 on February 28, 2024, followed by a conference call. The webcast will be available on investors.universalmusic.com, and a replay link will be provided. Investors and analysts can pre-register for a dial-in line to ask questions.

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11/13/2023 09:00 AM

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Universal Music Group's science-based targets validated by Science-Based Targets initiative

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Universal Music Group N.V. (EURONEXT: UMG) Achieves Science Based Targets Initiative Approval for Greenhouse Gas Emission Reductions

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10/26/2023 11:45 AM

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Universal Music Group N.V. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2023

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Universal Music Group N.V. announced its Q3 2023 financial results. Revenue increased 3.3% YoY to €2,752 million, driven by constant currency growth in all segments. Adjusted EBITDA grew 5.1% YoY to €581 million. Top sellers included Taylor Swift and King & Prince.

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10/02/2023 11:45 AM

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Universal Music Group N.V. to Announce Financial Results for the Third Quarter Ended September 30, 2023

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Universal Music Group N.V. will release its Q3 2023 financial results on October 26, 2023, after the close of the Euronext market. A conference call to discuss the results will be held at 6:15pm CEST. Investors and analysts can pre-register for a dial-in line to ask questions.

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09/22/2023 08:00 PM

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Universal Music Group N.V. Announces Resignation of Anna Jones from its Board of Directors

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Universal Music Group N.V. announces retirement of Non-Executive Director Anna Jones

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07/26/2023 11:45 AM

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Universal Music Group N.V. Reports Financial Results for the Second Quarter and Half Year Ended June 30, 2023

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06/30/2023 11:45 AM

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Universal Music Group N.V. to Announce Financial Results for the Second Quarter and First Half Ended June 30, 2023

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06/06/2023 02:44 PM

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Universal Music Group N.V. successfully prices €750m of new Eurobond Notes

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FAQ

What is the current stock price of UNIVERSAL MUSIC GRP U/ADR (UNVGY)?

The current stock price of UNIVERSAL MUSIC GRP U/ADR (UNVGY) is $13.1 as of October 29, 2024.

What is the market cap of UNIVERSAL MUSIC GRP U/ADR (UNVGY)?

The market cap of UNIVERSAL MUSIC GRP U/ADR (UNVGY) is approximately 46.5B.

What is Universal Music Group's core business?

UMG is a global leader in music-based entertainment, engaged in recorded music, music publishing, merchandising, and audiovisual content. The company boasts the most comprehensive catalog of recordings across all genres.

What recent achievement did Universal Music Group announce in Q1 2024?

In Q1 2024, UMG announced the acquisition of a 25.8% interest in Chord Music Partners for US$240 million, further expanding its premier music intellectual property portfolio.

What were the key highlights of UMG's Q4 2023 and FY 2023 results?

UMG's Q4 2023 and FY 2023 results showcased strong revenue growth across all segments, including Recorded Music, Music Publishing, and Merchandising. The company reported robust financial performance, with EBITDA and Adjusted EBITDA increasing.

What is the aim of Universal Music Group's strategic organizational redesign?

The strategic redesign aims to enhance artist and fan experiences, maximize efficiencies, and drive long-term growth. By focusing on core creative capabilities, UMG seeks to create unparalleled opportunities for artists and fans.

How much in annual run-rate savings does Universal Music Group aim to achieve by 2026?

UMG aims to generate €250 million in annual run-rate savings by 2026 through a strategic organizational redesign focused on optimizing cost structures while preserving core artistic and entrepreneurial values.