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The founders of indie label group [PIAS] have announced they are selling the remaining shares they hold in the company to Universal Music Group (UMG), making the music giant the firm’s majority shareholder. In an announcement on Tuesday (Oct. 15), Kenny Gates said he and his [PIAS] co-founder Michel Lambot were selling their shares to UMG, which acquired a 49% stake in the company in 2022, to “allow us to […]
During a chaotic week for stock markets around the world, Universal Music Group (UMG) shares rose 3.3% to 22.15 euros ($24.20), enough to make the Amsterdam-listed company the top-performing music stock of the week. Stocks were hammered on Monday (Aug. 5) as markets reacted to a disappointing U.S. jobs report the prior Friday (Aug. 2), leading to mounting concerns the economy could fall into a recession. The Billboard Global Music […]
Although most music stocks gained value this week, Spotify dropped 4.6% to $302.27 despite the U.S. markets surging to record heights and two new analyst reports that indicated the company’s share price has much room for improvement. On Wednesday (July 10), KeyBanc increased Spotify’s price target from $400 to $410 on the belief that the market is underestimating the company’s revenue, earnings and gross margin for 2025 and 2026. In […]
Universal Music Group announced on Thursday (March 28) that its artists will soon have the ability to tease unreleased music on Spotify. Sharing snippets of unreleased songs on social media has been one of the most popular promotional methods for artists during the TikTok era (sometimes to the chagrin of songwriters). In many instances, artists haven’t even finished writing the song that they tease. But fan enthusiasm can make these […]
IRVINE, CA / ACCESSWIRE / March 23, 2024 /WHAT: Allied Universal®, North America's leading security and facility services company, is filling event staff and security positions to work at Coachella, the world's largest outdoor music festival in Coachella Valley, Calif. Available positions include ushers, greeters, access control, crowd management and more. × This page requires Javascript. Javascript is required for you to be able to read premium content. Please […]
It’s been a nerve-wracking week for Universal Music Group employees — many did not know when they went to the office on Wednesday morning if they’d have a job on Friday. Layoffs hit department heads first and then started to impact the rank and file. Over the past year, more than a dozen companies across the music business have undergone layoffs, eliminating thousands of jobs and leaving those who remain […]
The Billboard Global Music Index — a diverse collection of 20 publicly traded music companies — finished 2023 up 31.3% as Spotify’s share price alone climbed 138% thanks to cost-cutting and focus on margins. Spotify is the single-largest component of the float-adjusted index and has one of the largest market capitalizations of any music company. The music index was outperformed by the tech-heavy Nasdaq composite, which gained 43.4% with the help […]
Universal Music Greater China (UMGC), a division of Universal Music Group (UMG), has announced a strategic partnership with Jay Chou, renowned as the “King of Mandopop,” and his record label JVR Music. This agreement secures global marketing and distribution rights for Jay Chou’s extensive music catalog and future projects, while also supporting rising talent from his label, including artists like Patrick Brasca and Young (Cao Yang) through JVR.The addition of […]
A nighttime shot of the Hohenzollern Bridge in Cologne, Germany. Photo Credit: Adnan OmicevicAmid a long-running legal battle with Universal Music Group (UMG) in Germany, Cloudflare is touting a new court ruling as a win for it as well as the broader internet “against misguided attempts to address online copyright infringement.” Cloudflare senior associate general counsel Patrick Nemeroff weighed in on the judgement, handed down by the Higher Regional Court […]
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