Universal Music Sells Half Spotify Stake, Artists to Benefit
Universal Music Group announced it would sell half of its stake in Spotify, with proceeds intended for stock buybacks and to benefit its artists. This move is expected to generate millions for artists, partly attributed to a clause in Taylor Swift's record contract.
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Universal Music to sell half its Spotify stake for buybacks, Q1 hit by weak dollar - Reuters
Universal Music to sell half its Spotify stake for buybacks, Q1 hit by weak dollar Reuters
Read full article →Universal Music Artists Can Reap Millions From Spotify Stock Sale, Thanks to Taylor Swift
Years ago, as part of her negotiation process to sign with UMG, Swift demanded that the company pay out artists — regardless of debts they may have to the company — if UMG ever sold off its Spotify stock.
By Ethan Millman
Read full article →How Taylor Swift’s Record Contract Could Lead to Millions of Dollars for UMG Artists After Spotify Stock Sale
A clause Swift had inserted into her initial deal with Universal in 2018 could have a major effect for some artists after UMG offloads part of its Spotify stock.
By Elizabeth Dilts Marshall
Read full article →Universal Music to sell half its Spotify stake for buybacks, Q1 hit by weak dollar
Universal Music Group said on Wednesday it would sell half of its equity stake in Spotify and double its share buyback programme, as it reported first-quarter revenue held back by a weaker U.S. dollar.
By Abubakar Ibrahim
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