A family walks past the Universal Music Group headquarters building in Santa Monica, California, on Feb. 9. Although Vivendi retained a chunk of Universal Music, it is looking to focus more on TV, advertising and publishing. Universal Music, like its rivals Warner Music Group Corp and Sony Music Entertainment, was once threatened by music piracy, but profits have soared in the age of streaming. It is home to many of the world’s biggest music stars, from Lady Gaga to Kanye West to Metallica. A prospectus for the IPO said UMG’s three main operating businesses are recorded music, music publishing and advertising, but that it is also expanding into areas such as live events, livestreaming, film, television and podcasts.

Source: Taipei Times September 21, 2021 15:56 UTC