UMGNF Stock Recent News

Universal Music Group warned Tuesday that it would pull its songs, which include those by Taylor Swift and The Weeknd, from TikTok after a breakdown in talks over issues such as the compensation of artists.

Price rises from the music streamers are providing a healthy tailwind for music companies such as Universal Music, Deutsche Bank suggests. All the major music streaming players have announced price increases on their individual subscription plans over the last  12-18  months, notes the German bank.

Universal Music has struck a deal with a rival of Spotify, and the pact could put artists back at the heart of the music-streaming industry.

Universal Music Group has acquired UAE-based music company, Chabaka, part of the CHBK Group, a label that specialises in digital distribution, marketing, publishing and artists from the Middle East and North Africa (MENA) region. Chabaka has more than 150 independent artists and local labels across the region of its roster and will expand UMG's footprint in the MENA market, where recorded music revenues rose by 23.8% in 2022.