Universal Music's Capital Markets Day Is Opportunity to Comfort Investors -- Market Talk

Dow Jones09-12

0842 GMT - Universal Music Group's capital markets day event on Sept. 17 represents an opportunity for the record label behind Taylor Swift, Billie Eilish and Ariana Grande to comfort investors after recent setbacks, Citi analysts write in a note to clients. The world's largest music company lost roughly $13.25 billion in market value toward the end of July after it posted revenue growth from subscriptions and streaming services well below what analysts had expected. The event will allow the company to reassure investors on short-term trends while addressing questions on the long term, analysts say. Universal Music shares trade 1.3% higher at 23.64 euros. (mauro.orru@wsj.com)

(END) Dow Jones Newswires

September 12, 2024 04:42 ET (08:42 GMT)

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