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Taylor Swift’s report label Common plans Share sale

Taylor Swift’s report label Common plans Share sale

2020-02-14 03:28:59

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French media large Vivendi needs to promote shares in its most-prized asset, Common Music Group, by early 2023.

Common is the world’s largest music label and residential to world stars Taylor Swift, Drake and Girl Gaga.

Vivendi had thought-about floating the worthwhile music division again in 2018, although felt it was too complicated.

However its shareholders, together with high investor Vincent Bollore, now need to checklist Common inside the subsequent three years.

Chinese language tech large Tencent led a consortium which purchased 10% of Common final December in a deal that valued it at €30bn (£25bn).

The information of a deliberate inventory market flotation of Common comes scorching on the heels of the same announcement by its smaller rival Warner Music Group.

Final week, Warner, house to a bunch of stars together with Ed Sheeran and Katy Perry, stated it plans to promote shares within the US.

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Vivendi chief govt Arnaud de Puyfontaine declined to present additional particulars concerning the deliberate flotation when he introduced report annual income on Thursday.

The music label’s earnings jumped by 22% from a 12 months earlier to €1.12bn.

The expansion in income for the likes of Common and Warner has been helped by the fast rise of paid streaming companies similar to Spotify and Apple.

This has boosted the worth of music firms, attracting extra buyers again to the report trade.The music world’s “huge three” labels, Common, Sony Music and Warner, management almost 80% of the market, in line with a report by Goldman Sachs. 

Taylor Swift signed with Common in 2018, transferring from a impartial nation label she had been with since she was 14-years-old.

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