Taylor Swift’s file label plans shares sale

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Taylor Swift performs during the 2019 Z100 Jingle Ball at Madison Square Garden on December 13, 2019 in New York City.Image copyright Getty Images

French media large Vivendi needs to promote shares in its most-prized asset, Universal Music Group, by early 2023.

Universal is the world’s largest music label and home to international stars Taylor Swift, Drake and Lady Gaga.

Vivendi had thought of floating the worthwhile music division again in 2018, although felt it was too complicated.

But its shareholders, together with high investor Vincent Bollore, now wish to checklist Universal throughout the subsequent three years.

Chinese tech large Tencent led a consortium which purchased 10% of Universal final December in a deal that valued it at €30bn (£25bn).

The information of a deliberate inventory market flotation of Universal comes sizzling on the heels of an identical announcement by its smaller rival Warner Music Group.

Last week, Warner, home to a bunch of stars together with Ed Sheeran and Katy Perry, stated it plans to promote shares within the US.

Image copyright Getty Images

Vivendi chief government Arnaud de Puyfontaine declined to offer additional particulars concerning the deliberate flotation when he introduced file annual earnings on Thursday.

The music label’s earnings jumped by 22% from a yr earlier to €1.12bn.

The progress in earnings for the likes of Universal and Warner has been helped by the speedy rise of paid streaming companies resembling Spotify and Apple.

This has boosted the worth of music firms, attracting extra buyers again to the file trade.The music world’s “big three” labels, Universal, Sony Music and Warner, management nearly 80% of the market, in keeping with a report by Goldman Sachs. 

Taylor Swift signed with Universal in 2018, transferring from a impartial nation label she had been with since she was 14-years-old.