UMG Scores a Win in New Deal; Spotify's Outlook Less Certain -- Market Talk

Dow Jones

2025/01/28

1308 ET - Spotify and Universal Music Group's new streaming licensing agreement is a win for UMG, TD Cowen analysts say, but the outlook for Spotify is cloudier. Analysts Doug Creutz and Mei Lun Quach say the deal supports UMG's guidance for high-single-digit streaming revenue growth in the next five years. The agreement lacks public details, but the analysts say it could lead to new Spotify product offerings like a "super-premium tier" that are in line with UMG's pricing goals. Spotify's growth, meanwhile, may hinge less on the price of music and more on other audio services--so the deal offers less insight into the company's outlook. UMG shares are up 7%, while Spotify shares are fairly steady. (owen.tucker-smith@wsj.com)

(END) Dow Jones Newswires

January 27, 2025 13:08 ET (18:08 GMT)

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Analysts Doug Creutz and Mei Lun Quach say the deal supports UMG's guidance for high-single-digit streaming revenue growth in the next five years. The agreement lacks public details, but the analysts say it could lead to new Spotify product offerings like a \"super-premium tier\" that are in line with UMG's pricing goals. Spotify's growth, meanwhile, may hinge less on the price of music and more on other audio services--so the deal offers less insight into the company's outlook. UMG shares are up 7%, while Spotify shares are fairly steady. 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Analysts Doug Creutz and Mei Lun Quach say the deal supports UMG's guidance for high-single-digit streaming revenue growth in the next five years. The agreement lacks public details, but the analysts say it could lead to new Spotify product offerings like a \"super-premium tier\" that are in line with UMG's pricing goals. Spotify's growth, meanwhile, may hinge less on the price of music and more on other audio services--so the deal offers less insight into the company's outlook. UMG shares are up 7%, while Spotify shares are fairly steady. 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Analysts Doug Creutz and Mei Lun Quach say the deal supports UMG's guidance for high-single-digit streaming revenue growth in the next five years. The agreement lacks public details, but the analysts say it could lead to new Spotify product offerings like a \"super-premium tier\" that are in line with UMG's pricing goals. Spotify's growth, meanwhile, may hinge less on the price of music and more on other audio services--so the deal offers less insight into the company's outlook. UMG shares are up 7%, while Spotify shares are fairly steady. (owen.tucker-smith@wsj.com) \n\n\n  (END) Dow Jones Newswires\n\n\n  January 27, 2025 13:08 ET (18:08 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}