Universal Music Group will sell half of its stake in Spotify, the company confirmed Wednesday while reporting its first quarter earnings, which came in flat year over year at about 2.9 billion euros ($3.3 billion) in revenue for the first quarter.
The Spotify move comes weeks after Bill Ackman’s Pershing Square had submitted an offer to buy the company, including in that proposal a plan to sell of UMG’s Spotify stake. As of 2025, UMG owned nearly 6.5 million shares in Spotify, according to UMG’s 2025 yearly report, worth 3.16 percent of the company. As of this story’s publication, an individual Spotify share is worth about $443, making a sale worth about $1.4 billion.
Aside from the Spotify move, UMG reported 2.9 billion euros ($3.3 billion) in revenue for the first financial quarter, the company reported on Wednesday, flat year-over-year though an 8 percent increase when measured
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