UMGNF Stock Recent News

Universal Music Group generated revenue of €2.75 billion in the third quarter, a 3.3% increase compared to the same period last year despite a slide in streaming sales, according to its latest financial results.  The music recording giant said that sales were underpinned by “healthy constant currency growth” across all of its business segments.

The top sellers for the quarter included Swift, Seventeen, Morgan Wallen, Olivia Rodrigo and King & Prince.

Universal Music Group , the label representing Taylor Swift, said on Wednesday it has partnered with digital music firm BandLab Technologies to help protect the rights of artists and songwriters amid the growing use of artificial intelligence.

HILVERSUM, The Netherlands , Oct. 2, 2023 /PRNewswire/ -- Universal Music Group N.V. (EURONEXT: UMG) announced today that it will release its financial results for the third quarter ended September 30, 2023 after the close of the Euronext market on October 26, 2023.

Universal Music Group is one of the major music entertainment companies with iconic record labels and operates in three segments: Recorded Music, Music Publishing, and Merchandising. The streaming era has opened up a long runway for growth, with streaming revenue growing at a CAGR of 23.1% from 2017 to 2022. Universal Music Group is a high-quality business with stable financial performance and trades at a discount to its intrinsic value.

I recommended a buy due to its favorable position in the growing music subscription services market. Recent strong performance in 2Q23 demonstrates UMGNF's ability to thrive in the evolving digital market. The expansion of the music streaming industry and potential price increases in streaming services are positive indicators for UMGNF's growth.

Universal Music Group, the label that spans Taylor Swift and Sam Smith to The Chemical Brothers and Tame Impala, has struck a deal with French streaming platform Deezer and is reported to be in talks with Spotify Technology SA (NYSE:SPOT), Tidal and SoundCloud about rebooting the payment model. The new model agreed by UMG is designed to enhance payouts to professional musicians by means of redirecting funds away from "non-artist noise content" including amateur and AI-generated music.

Generative AI is revolutionizing the music industry by creating melodies and lyrics, and even mimicking legendary voices. YouTube and Universal Music Group have formed a partnership to manage AI-generated music on YouTube's platform.

YouTube announced it is launching an artificial intelligence (AI) incubator designed to explore AI's role in music.

With artificial intelligence currently front and center across the creative community, YouTube has published a set of AI music principles and launched something it's calling the YouTube Music AI Incubator with a group of artists, songwriters and producers from Universal Music Group.