With Warner Music Group and Big Hit Entertainment having gone public this year, Vivendi has confirmed that Universal Music Group is pressing ahead with its own plans for an IPO – but not this year or next.
“An IPO is planned for 2022,” announced Vivendi in its latest financials, adding that it’s also looking to “sell additional minority interests in UMG” following its deal with a Tencent-led consortium.
As for the financials, they revealed Universal bouncing back to growth in the third quarter of this year, bringing in €1.86bn (around $2.14bn) of revenue in Q3, up by 3.1% year-on-year (or 6.1% in organic terms).
Recorded music revenues grew by 7.7% to €1.48bn ($1.71bn), including an 18.6% bump for streaming revenues to €992m ($1.14bn). Meanwhile, music publishing was up by 3.2% to €303m ($359.2m).
One point made in the results, too, was a comeback for physical sales last quarter. Although they’re down by 9.6% year-on-year for the first nine months of 2020, in Q3 specifically they were up by 11.5% year-on-year.
Get A Free Music Ally Account
Access unlimited News articles on the site, PLUS a trial of Music Ally’s subscriber-only services, including our industry-leading daily Bulletin email.