RUMOR MILL
Back to Rumor Mill >
Thursday, July 27, 2023

UMG STOCK SURGES

Universal Music Group stock rose 11% to €24.21 ($26.63) Thursday, one day after announcing strong results for the second quarter of 2023.

UMG, the first major music company to report quarterly earnings, pulled in more than $1.15b from subscriptions in the quarter, a 10.6% rise over the same period the year prior. Combined with the recent announcements of subscription price hikes at Spotify and YouTube, the speculation is that UMG will be among the prime beneficiaries of the increased prices.

Executives from Spotify and UMG cautioned in calls to stock analysts that the full impact of these increases will not be felt until the fourth quarter of the year.

TAGS: Universal Music Group
UMG NEARS $3B IN Q2
GRAINGE ON UMG’S “ARTIST-CENTRIC” APPROACH
< PREVIOUS STORY
BACK TO RUMOR MILL
 
HITS LIST: HORSEPOWER
VRRMMMM (5/21a)
Check It Out Now
HARD LAUNCH: EILISH GOES BIG AGAIN
"Lunch" and other tasty treats (5/20a)
Check It Out Now
OH, TANNENBAUM! ANOTHER GREAT CAREER HITS THE SKIDS
Another talented journalist trapped in the career cul de sac (5/20a)
Check It Out Now
NEAR TRUTHS: VARIANTS
Celebrity death match underway on album chart. (5/20a)
Check It Out Now
ON THE COVER:
HOZIER
Pour some sugar on us. (5/21a)
Check It Out Now
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)

By clicking submit you are agreeing
to Terms and Conditions