5 years ago many in the industry thought that the major labels were headed for extinction. Now, owner Vivendi values its own Universal Music Group at $22 billion.
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Universal Music Group is worth $22 billion, according to owner Vivendi's General Counsel Frédéric Crépin. The turnaround and meteoric rise were furled by streaming music revenue.
Some stats for comparison:
Warner Music Group sold for $3.3 billion in 2012
EMI's recorded music business sold for $1.9 billion in 2012
Outside buyers offered $8.5 billion for IMG in 2012 and $15 billion in 2015.
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