Taylor Swift Universal record label plans to sell shares
French media giant Vivendi plans to sell shares of its most valuable asset, the Universal Music Group, in early 2023.
Universal is the largest music label in the world and is home to world stars Taylor Swift, Drake and Lady Gaga, j balvin.
Vivendi had planned to bring the profitable music division to the market in 2018, although it considers this to be too complex.
But its shareholders, including major investor Vincent Bolloré, now want to include Universal in the next three years.
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Chinese technology giant Tencent led a consortium last December that bought 10% of Universal. The deal was worth £ 30 billion (£ 25 billion).
The news of a universal IPO comes immediately after a similar announcement from rival Warner Music Group.
Warner, which is home to a number of stars like Ed Sheeran and Katy Perry, said last week he was planning to sell stocks in the United States.
Vivendi CEO Arnaud de Puyfontaine refused to provide further details on the listing plan when he announced a record annual profit on Thursday.
The result of the music label rose by 22% compared to the previous year to 1.12 billion euros.
Earnings growth for Universal and Warner was supported by the rapid growth of paid broadcast services like Spotify and Apple.
This has increased the value of music companies and attracted more investors to the music industry. The "big three" labels in the music world, Universal, Sony Music and Warner, control almost 80% of the market, according to a report by Goldman Sachs.
Taylor Swift signed with Universal in 2018 and moved from an independent country label to which he has been active since he was 14.
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