Universal Music Group generated over $1m an hour in Q1

[dmac6419]

https://www.musicbusinessworldwide....r-in-q1-and-expects-to-go-public-in-the-fall/

 

[_thelaughingman]

Another example of exploitation in free market, where artists hardly make money but record labels and publishers hog the huge chunk off another's hard work. BTW if anyone thinks RIAA and the labels are poor, just go look at their lobbyists spending for trying to keep the horde sufficient.

 

[DChenery]

Just a bit of an update, on Bill Ackman's acquisition plans: (always think of this for some reason when anyone talks about Ackman)

"Hedge-fund billionaire William Ackman’s special-purpose acquisition company is nearing a transaction with Universal Music Group that would value the world’s largest music business at about $40 billion, people familiar with the matter said.
. . . It would have a so-called enterprise value, taking into consideration Universal’s debt, of about $42 billion. "

Full article here:
https://www.wsj.com/articles/pershi...rsal-music-group-11622756897?mod=hp_lead_pos1