French media large Vivendi needs to promote shares in its most-prized asset, Universal Music Group, through early 2023.
Universal is the arena’s greatest song label and residential to world stars Taylor Swift, Drake and Lady Gaga.
Vivendi had thought to be floating the successful song department again in 2018, even though felt it used to be too complicated.
But its shareholders, together with most sensible investor Vincent Bollore, now need to record Universal inside the subsequent 3 years.
Chinese tech large Tencent led a consortium which purchased 10% of Universal closing December in a deal that valued it at €30bn (£25bn).
The information of a deliberate inventory marketplace flotation of Universal comes sizzling at the heels of a identical announcement through its smaller rival Warner Music Group.
Last week, Warner, house to a bunch of stars together with Ed Sheeran and Katy Perry, mentioned it plans to promote shares in america.
Vivendi leader govt Arnaud de Puyfontaine declined to give additional information about the deliberate flotation when he introduced record annual income on Thursday.
The song label’s income jumped through 22% from a 12 months previous to €1.12bn.
The expansion in income for the likes of Universal and Warner has been helped through the speedy upward thrust of paid streaming services and products akin to Spotify and Apple.
This has boosted the price of song firms, attracting extra buyers again to the record business.The song international’s “big three” labels, Universal, Sony Music and Warner, keep an eye on just about 80% of the marketplace, in accordance to a file through Goldman Sachs.
Taylor Swift signed with Universal in 2018, transferring from a impartial nation label she have been with since she used to be 14-years-old.