It has been reported that Vivendi, the parent company of Universal Music Group, is contemplating an open offering for the company. This news came from an investor meeting that took place in Paris on April 19. Although, the plan is not official just yet. We will see in the future.
“We have started work that will allow us to present the benefits of a potential listing of UMG to the supervisory board.” – Arnaud de Puyfontaine, CEO of Vivendi
In 2017, UMG’s revenue upgraded to 10% due to streaming. UMG carries a large number of assets, along with a roster including Drake, Taylor Swift, Rihanna, and The Beatles.
What do you guys think? Will UMG go public? Is this a rumor? Let us know in the comment section down below.