PR Newswire
Combination Will Create Robust Global End-to-End Solution for Independent Music Entrepreneurs
LOS ANGELES, Dec. 16, 2024 /PRNewswire/ -- Virgin Music Group, one of the world's leading partners to independent music entrepreneurs, and the global independent music division of Universal Music Group, announced today it has entered into a definitive agreement to acquire Downtown Music Holdings LLC (Downtown) for cash consideration of $775 million (approximately €737 million). The acquisition, which is subject to regulatory approvals, is expected to close in the second half of 2025. Upon completion, this transaction will bring together two industry-leading providers of client services and music technology, enhancing their offerings and capabilities to serve the independent music community.
Combination Will Create Robust Global End-to-End Solution for Independent Music Entrepreneurs
LOS ANGELES, Dec. 16, 2024 /PRNewswire/ -- Virgin Music Group, one of the world's leading partners to independent music entrepreneurs, and the global independent music division of Universal Music Group, announced today it has entered into a definitive agreement to acquire Downtown Music Holdings LLC (Downtown) for cash consideration of $775 million (approximately €737 million). The acquisition, which is subject to regulatory approvals, is expected to close in the second half of 2025. Upon completion, this transaction will bring together two industry-leading providers of client services and music technology, enhancing their offerings and capabilities to serve the independent music community.
HILVERSUM, Netherlands, Nov. 9, 2024 /PRNewswire/ -- "We have taken note of Bill Ackman's post in relation to Pershing Square and UMG on X yesterday. Neither UMG nor any of its other board members were involved in the formulation of the views in that post. As disclosed in UMG's listing prospectus, Pershing has the right to request a listing in the US subject to a Pershing entity selling at least $500 million in UMG shares as part of the listing. Pershing does not have any right to require UMG to become a US domiciled company or delist from Euronext Amsterdam. While the company will endeavor in good faith to comply with its contractual obligations with respect to undertaking the process of a US listing at the request of Pershing, any actions or decisions beyond those necessary to comply (including any decisions to change the domicile of the company) will be based on an analysis taking into account what is value maximizing and in the best interests of all the shareholders of the company."
HILVERSUM, Netherlands, Nov. 9, 2024 /PRNewswire/ -- "We have taken note of Bill Ackman's post in relation to Pershing Square and UMG on X yesterday. Neither UMG nor any of its other board members were involved in the formulation of the views in that post. As disclosed in UMG's listing prospectus, Pershing has the right to request a listing in the US subject to a Pershing entity selling at least $500 million in UMG shares as part of the listing. Pershing does not have any right to require UMG to become a US domiciled company or delist from Euronext Amsterdam. While the company will endeavor in good faith to comply with its contractual obligations with respect to undertaking the process of a US listing at the request of Pershing, any actions or decisions beyond those necessary to comply (including any decisions to change the domicile of the company) will be based on an analysis taking into account what is value maximizing and in the best interests of all the shareholders of the company."
HILVERSUM, The Netherlands, Nov. 6, 2024 /PRNewswire/ -- Universal Music Group N.V. (EURONEXT: UMG) announced today that its COO and CFO, Boyd Muir, will participate in a question-and-answer session at the Morgan Stanley European Technology, Media & Telecom Conference on Wednesday, November 20, 2024 at 12:20pm CET.
To listen to the webcast, please visit investors.universalmusic.com.
HILVERSUM, The Netherlands, Nov. 6, 2024 /PRNewswire/ -- Universal Music Group N.V. (EURONEXT: UMG) announced today that its COO and CFO, Boyd Muir, will participate in a question-and-answer session at the Morgan Stanley European Technology, Media & Telecom Conference on Wednesday, November 20, 2024 at 12:20pm CET.
To listen to the webcast, please visit investors.universalmusic.com.
About Universal Music GroupAt Universal Music Group, we exist to shape culture through the power of artistry. UMG is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising, and audiovisual content. Featuring the most comprehensive catalogue of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry, innovation, and entrepreneurship, UMG fosters the development of services, platforms, and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. For more information, visit www.universalmusic.com.
Announces Promotion of Boyd Muir to Chief Operating Officer, Plans for Chief Financial Officer Transition
Summary Q3 2024 Results1
Revenue of €2,870 million increased 4.3% year-over-year, or 4.9% in constant currency, with growth in all segments. Excluding a prior-year item affecting comparability, detailed below, revenue grew 6.3% year-over-year, or 7.0% in constant currency.Recorded Music subscription revenue grew 7.6% year-over-year, or 8.2% in constant currency while streaming revenue declined 0.8% year-over-year, but grew 0.3% in constant currency.Adjusted EBITDA of €621 million increased 6.9% year-over-year, or 8.2% in constant currency, and Adjusted EBITDA margin expanded 0.5 percentage points to 21.6%. Excluding a prior-year item affecting comparability, detailed below, Adjusted EBITDA grew 8.9% year-over-year, or 10.3% in constant currency.Top sellers included Taylor Swift, Sabrina Carpenter, Billie Eilish, Chappell Roan and Post Malone.Announces Promotion of Boyd Muir to Chief Operating Officer, Plans for Chief Financial Officer Transition
Summary Q3 2024 Results1
Revenue of €2,870 million increased 4.3% year-over-year, or 4.9% in constant currency, with growth in all segments. Excluding a prior-year item affecting comparability, detailed below, revenue grew 6.3% year-over-year, or 7.0% in constant currency.Recorded Music subscription revenue grew 7.6% year-over-year, or 8.2% in constant currency while streaming revenue declined 0.8% year-over-year, but grew 0.3% in constant currency.Adjusted EBITDA of €621 million increased 6.9% year-over-year, or 8.2% in constant currency, and Adjusted EBITDA margin expanded 0.5 percentage points to 21.6%. Excluding a prior-year item affecting comparability, detailed below, Adjusted EBITDA grew 8.9% year-over-year, or 10.3% in constant currency.Top sellers included Taylor Swift, Sabrina Carpenter, Billie Eilish, Chappell Roan and Post Malone.UMG to Exclusively Distribute all Future Release of the Massive Hit Show's Signed Contestants and Will host the Top Three contestants on a Global Tour of UMG's Iconic Music Labels
BEIJING, Oct. 18, 2024 /PRNewswire/ -- Universal Music Greater China (UMGC), a division of Universal Music Group (UMG), the world leader in music-based entertainment, today announced a strategic agreement with iQIYI, China's leading online entertainment platform, under which UMGC will exclusively distribute new releases from the signed contestants of 'The Rap of China 2024' worldwide, while providing them with an integrated support network. Additionally, the top three finalists will be invited to visit UMG's global music labels and iconic studios, to expand their artistic horizons and foster international collaborations.
HILVERSUM, The Netherlands, Oct. 2, 2024 /PRNewswire/ -- Universal Music Group N.V. (EURONEXT: UMG) announced today that it will release its financial results for the third quarter ended September 30, 2024 after the close of the Euronext market on October 31, 2024.
The company will host a conference call to discuss these results on Thursday, October 31, 2024, at 6:15pm CET. A link to the live audio webcast will be available on investors.universalmusic.com and a link to the replay will be available after the call.
HILVERSUM, The Netherlands, Oct. 2, 2024 /PRNewswire/ -- Universal Music Group N.V. (EURONEXT: UMG) announced today that it will release its financial results for the third quarter ended September 30, 2024 after the close of the Euronext market on October 31, 2024.
The company will host a conference call to discuss these results on Thursday, October 31, 2024, at 6:15pm CET. A link to the live audio webcast will be available on investors.universalmusic.com and a link to the replay will be available after the call.
HILVERSUM, Netherlands, Sept. 17, 2024 /PRNewswire/ -- Universal Music Group N.V. (EURONEXT: UMG), the world leader in music-based entertainment, will hold its 2024 Capital Markets Day today in London. As part of the Capital Markets Day presentations, senior executives from across the company will present a strategic update and business outlook, and management will share financial targets through the end of FY 2028.
UMG expects to continue achieving high Revenue and Adjusted EBITDA growth, driven in part by the continued growth in subscription revenue, accelerating superfan monetization, and an expanding partner ecosystem, that it expects will translate into meaningful Free Cash Flow generation. Management will provide further details to support this outlook during the Capital Markets Day.
HILVERSUM, Netherlands, Sept. 17, 2024 /PRNewswire/ -- Universal Music Group N.V. (EURONEXT: UMG), the world leader in music-based entertainment, will hold its 2024 Capital Markets Day today in London. As part of the Capital Markets Day presentations, senior executives from across the company will present a strategic update and business outlook, and management will share financial targets through the end of FY 2028.
Die hier zur Verfügung gestellten Informationen unterliegen keiner redaktionellen Bearbeitung. Die Aufbereitung erfolgt vollautomatisch und wird durch Zusatzinformationen und weiterführende Recherchemöglichkeiten angereichert. Ziel der Inhalte ist die schnelle und unkomplizierte Versorgung der Informationssuchenden mit den für sie relevanten Informationen. Durch eine Rückverlinkung auf den Informationsanbieter und -eigentümer ist sichergestellt, dass die hier aufbereiteten Daten bei Bedarf mit den Quellinformationen abgeglichen werden können. Das Newsboard zeigt keine Informationen in Echtzeit. Diese bitten wir bei Bedarf beim Börsenbetreiber abzurufen. Es besteht kein Anspruch auf Vollständigkeit. Hochverfügbarkeit kann nicht gewährleistet werden. Sollten Sie Fehler in der Funktionsweise bemerken, teilen Sie uns diese über das weiter unten befindliche Formular "Report a Bug" mit.
RAW DATA PROCESSING bedeutet, dass Rohdaten verarbeitet werden, ohne den Inhalt zu verändern. Um die Interpretation der Information im Sinne der Nutzbarkeit zu verbessern, werden die Daten ergänzt.
Hinweis: Über das Newswire-Crosslink-Panel im oberen Bereich gelangen Sie schnell und bequem zu weiteren Informationsquellen. Im Terminalview sind die Nachrichten auf Unternehmensebene gefiltert und ermöglich darüber gezielte Recherchen.
Wir bedanken uns im Namen der Trading-Community bei den Betreibern der Handelsplätze für die Bereitstellung von Informationsdiensten.