logo-loader

World’s biggest record company Universal Music eyes stock market listing

The label, which is home to artists such as Taylor Swift, is planning an IPO by early 2023 at the latest

Taylor Swift

Universal Music, the world’s biggest record company and home to artists such as Taylor Swift and the Beatles, has unveiled plans to list on the stock market in the coming years.

The label, which is owned by French media giant Vivendi, is currently valued at around €30bn (£25bn) following the sale of a 10% stake to Chinese conglomerate Tencent for (£2.5bn) in December.

READ: Ed Sheeran's record label Warner Music mulls US re-listing

Vivendi said in its annual results that the IPO was planned for “early 2023 at the latest” and that eight banks had been mandated to assist in the float.

For the year ended 31 December 2019, Universal Music reported revenues of €7.16bn (£5.97bn), up 18.9% year-on-year, and underlying (EBITDA) earnings that were 24.6% higher at €1.1bn (£917mln).

Universal Music will be following the lead of its smaller rival, which said last week that it intended to return to the stock market nine years after it was acquired by billionaire Len Blavatnik for US$3.3bn (£2.5bn).

The label is home to Ed Sheeran, Cardi B and Bruno Mars and posted a profit of US$256mln (£197mln) last year.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Morning Report: Pan African profits jump 126% to US$21.9mln

Headlines from the Proactive UK newsroom. Pan African’s (LON:PAF) interim profits jumped 126% to US$21.9mln as the gold miner benefited from the rise in the gold price, better production at the Evander miner and the stronger dollar. Afritin (LON:ATM) has made the first shipment of...

4 minutes ago

2 min read