UMGNF Stock Recent News

Universal Music Group, which represents megastars such as Taylor Swift, Bad Bunny and Drake, is warning it will pull its songs from TikTok after failing to agree to new licensing terms.

Universal Music Group's agreement with TikTok will expire on Jan. 31 and the companies have not agreed on new terms, which will mean the music label will cease licensing content to TikTok and TikTok Music services, it said on Tuesday.

Universal Music Group (UMG), the label representing artists including Taylor Swift, Billie Eilish, and Ariana Grande, says that it'll pull its music from TikTok tomorrow at midnight after failing to reach a deal with the platform's parent company, ByteDance, over royalties.

HILVERSUM, The Netherlands , Jan. 29, 2024 /PRNewswire/ -- Universal Music Group N.V. (EURONEXT: UMG) announced today that it will release its financial results for the fourth quarter and full year ended December 31, 2023 on February 28, 2024 after that day's close of the Euronext market.

The Post spoke with multiple customers who claim they waited months for goods from the site -- which promises many items "ship in 1 week" -- with little to no response from UMG's customer service. Ditto for requests for a refund.

Universal Music Group is planning what may become hundreds of job cuts to its recorded music division in its first quarter, according to numerous reports. A company spokesperson confirmed the layoffs on Friday, but did not say how many were anticipated. The company has more than 11,000 employees worldwide.

As of 2022, the company had nearly 10,000 employees globally, as stated in that year's annual report.

Universal Music Group will lay off some employees in 2024, a company spokesperson said on Friday, making the world's largest record label the latest to join a wave of layoffs this year.

Universal Music Group N.V. (OTCPK:UMGNF) Q3 2023 Earnings Conference Call October 26, 2023 12:15 PM ET Company Participants Lucian Grainge - Chairman and CEO Boyd Muir - EVP, CFO and President of Operations Michael Nash - EVP and Chief Digital Officer Conference Call Participants Silvia Cuneo - Deutsche Bank Lisa Yang - Goldman Sachs William Packer - BNP Paribas Exane Adrien Hilaire - Bank of America Merrill Lynch Douglas Creutz - Cowen Julien Roch - Barclays Thomas Singlehurst - Citigroup Michael Morris - Guggenheim Partners Operator Good evening, and welcome to Universal Music Group's Third Quarter Earnings Call for the period ended September 30, 2023.

Universal Music Group (UMG) is seeing increased revenue from paid subscription platforms amid decreases from free, ad-supported streaming services, suggesting that consumers may increasingly be willing to pay a premium to skip the commercials.