Universal Music Group – the world's largest record company with artists such as Taylor Swift, Billie Eilish, and Ariana Grande – rises by nearly 4 percent on the Amsterdam Stock Exchange. The stock exchange gives a thumbs up for a new forecast at a capital market day in London.
Universal now expects revenues to grow by at least 7 percent per year until the end of 2028, calculated in constant currencies, and growth in subscription revenues is estimated to reach 8–10 percent.
The share price increase in Tuesday's trading follows a collapse for the stock in July – when equivalent to 135 billion kronor of the company's market value went up in smoke since subscription and streaming revenues unexpectedly fell short in a quarterly report.
