Universal Music Group Stock Rises on Spotify Deal, Amazon Price Hike
In a banner week for music stocks, record labels and music publishers posted gains after Universal Music Group (UMG) signed a new licensing deal with Spotify and Amazon announced further price increases for its music streaming service. UMG gained 11.2% to 26.94 euros ($27.91) after the company announced it renewed its licensing deal with Spotify for its record labels and music publishing. According to the company, the agreement will allow […]