UNIVERSAL MUSIC GRP U/ADR - UNVGY STOCK NEWS

Universal Music Group N.V. reported its Q1 2023 financial results, revealing a revenue of €2,451 million, an increase of 11.5% year-over-year and 9.3% in constant currency. This growth was primarily driven by Recorded Music and Music Publishing segments. Adjusted EBITDA rose to €522 million, marking a 14.7% increase year-over-year, with a margin of 21.3%.

However, EBITDA declined 42.5% year-over-year to €261 million due to €261 million in non-cash share-based compensation expenses. Notably, subscription revenue grew 12.7%, while streaming revenue increased 1.9% but showed a 2.2% decline in constant currency.

Universal Music Group N.V. (Euronext: UMG) has announced that it will disclose its financial results for the first quarter ending March 31, 2023, after the close of the Euronext market on April 26, 2023. The announcement includes details of a conference call scheduled for the same day at 6:15 PM CEST to discuss these results. Investors and analysts can pre-register for a dial-in to ask questions during the call. Universal Music Group is a leader in the music entertainment industry, focusing on recorded music, music publishing, and audiovisual content, with a commitment to fostering artistic development and innovation.

Universal Music Group N.V. (UMG) has released its 2022 annual report and announced the agenda for its upcoming annual general meeting (AGM) on May 11, 2023. Key decisions include the re-appointment of Sir Lucian Grainge as Executive Director and the nomination of Haim Saban as an Independent Non-Executive Director. Additionally, other directors such as Sherry Lansing, Anna Jones, and Luc van Os are proposed for re-appointment to ensure board continuity. The AGM will also address the approval of the 2022 financial statements and remuneration report, among other items. The 2022 annual report has been filed with the Dutch Authority for the Financial Markets.

Universal Music Group N.V. (Euronext: UMG) has announced the extension of Sir Lucian Grainge's contract as Chairman and CEO until May 1, 2028. The Board emphasizes the importance of strong leadership for maximizing shareholder value. Grainge's compensation will transition to a mix of equity and cash, significantly reducing his salary to $5 million annually while allowing bonuses up to $10 million based on performance criteria. Additionally, Grainge will receive a one-time transition equity award of $100 million. This strategic move aims to drive sustainable success for UMG and align executive compensation with long-term company growth.

Universal Music Group (ticker: UNVGY) reported Q4 2022 revenue of €2,942 million, a 16.7% increase year-over-year, with adjusted EBITDA rising 23.3% to €620 million. Full-year 2022 revenue reached €10,340 million, up 21.6%, while free cash flow surged 70.2% to €1,086 million. Digital and subscription revenues fueled growth, with notable contributions from top artists like Taylor Swift and The Beatles. However, net profit declined to €782 million, or €0.43 per share, primarily due to revaluation expenses. A proposed dividend of €491 million, or €0.27 per share, is subject to shareholder approval.

Universal Music Group N.V. (Euronext: UMG) announced that its Chairman and CEO, Sir Lucian Grainge, will participate in the Pershing Square Holdings, Ltd. Annual Investor Meeting on February 9, 2023, at 4:00 PM CET. The event offers an opportunity for investors to gain insights directly from UMG's leadership. To listen to the webcast, visit investors.universalmusic.com. UMG is a leader in music-based entertainment with a diverse portfolio encompassing recorded music, music publishing, and merchandising, dedicated to fostering artistry and innovation in the industry.