French entertainment and telecom conglomerate Vivendi on Tuesday said its third-quarter revenue edged up 1.3 percent, or 0.7 percent assuming constant currencies, to 4.02 billion euros .
Universal Music Group, home to the likes of Billie Eilish, Taylor Swift, Drake, Post Malone and Lady Gaga, recorded a third-quarter revenue gain of 3 percent, or 6.1 percent assuming constant currencies, to $2.20 billion . Vivendi said this was"driven by the music streaming platforms." Vivendi also said on Tuesday that it was planning an initial public offering for Universal Music for 2022. Previously, it had mostly spoken of IPO plans by 2023, in July saying it would happen in early 2023 at the latest.in Universal Music to a consortium led by Chinese online giant Tencent. It has the option to raise that by a further 10 percent until January. Vivendi has also reiterated that it would"pursue the possible sale of additional minority interests in UMG.
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