French media huge Vivendi needs to sell shares in its most-prized asset, Universal Song Neighborhood, by early 2023.
Universal is the field’s most attractive music label and dwelling to world stars Taylor Swift, Drake and Lady Gaga.
Vivendi had idea of as floating the winning music division wait on in 2018, despite the indisputable fact that felt it was as soon as too advanced.
But its shareholders, at the side of high investor Vincent Bollore, now must list Universal all the arrangement via the following three years.
Chinese language tech huge Tencent led a consortium which supplied 10% of Universal last December in a deal that valued it at €30bn (£25bn).
The details of a planned inventory market flotation of Universal comes hot on the heels of a similar announcement by its smaller rival Warner Song Neighborhood.
Last week, Warner, dwelling to a bunch of stars at the side of Ed Sheeran and Katy Perry, said it plans to sell shares within the US.
Vivendi chief executive Arnaud de Puyfontaine declined to present extra details about the planned flotation when he announced epic annual profits on Thursday.
The music label’s earnings jumped by 22% from a one year earlier to €1.12bn.
The expansion in profits for the likes of Universal and Warner has been helped by the speedy rise of paid streaming companies and products equivalent to Spotify and Apple.
This has boosted the payment of music companies, attracting more investors wait on to the epic trade.The music world’s “huge three” labels, Universal, Sony Song and Warner, modify as regards to 80% of the market, in response to a epic by Goldman Sachs.
Taylor Swift signed with Universal in 2018, piquant from a honest country label she had been with since she was as soon as 14-years-worn.