Universal Music on the way to the Stock Exchange

What future for the major Universal Music, driven by paid streaming music subscriptions? Valued at 30 billion euros for the sale of a stake in the Chinese group Tencent, the nugget of Vivendi is now taking the market. The French media giant announced Thursday, February 13, in a press release, a proposed initial public offering “by early 2023” of Universal Music (UMG), which is one of the major majors dominating the world music market with the Japanese Sony and the American Warner, who has just started an IPO procedure in the United States.

Vivendi’s chairman of the board, Arnaud de Puyfontaine, said during a conference call with press agencies that he wanted to “take up date” on the subsidiary’s listing project. The terms, in particular the share of the capital which will be placed on the stock market, will be specified later. According to data published in parallel on Thursday, UMG saw its turnover increase by 18.9% to 7 billion euros last year, in particular thanks to revenues linked to subscriptions and streaming. The major, based in Santa Monica, California, thus strongly contributed to the growth of the turnover of the entire Vivendi group (+ 14.1% to 15.9 billion euros, and + 5.6% at constant exchange rates and perimeter).

>> Read also – Vivendi sells 10% of Universal Music to Tencent, which could still go up in capital!

In 2017, Arnaud de Puyfontaine had already indicated in an interview with the Wall Street Journal that Vivendi could introduce on the stock exchange a minority share of the record company, declaring that Universal was not “a sacred cow”. Vincent Bolloré, head of the Bolloré group which is the main shareholder of Vivendi, said shortly after waiting for “the most opportune moment”. Back machine in July 2018: the media tycoon, deeming an IPO too complex, announces that he is looking for strategic partners

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