Universal, the world’s biggest record label, heads for an IPO
Investors hope to cash in on the streaming boom. But will the hits keep coming?
MUSIC FANS have had to get used to seeing stars perform via video-link, and the same was true of the big performance held on June 22nd to decide the future of Universal Music Group. Shareholders in Vivendi, the record label’s parent company, tuned in to the annual general meeting to chorus their near-unanimous approval of a plan to spin off Universal as an independent firm. The label will launch as a solo act on the Amsterdam stock exchange in September.
This article appeared in the Business section of the print edition under the headline “Going solo”
Business June 26th 2021
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