Universal Music Group

Universal Music Group N.V.^[3] (often abbreviated as UMG and referred to as Universal Music Group or Universal Music) is a Dutch–American multinational music corporation under Dutch law. UMG's corporate headquarters are located in Hilversum, Netherlands and its operational headquarters are located in Santa Monica, California.^[4][5] The biggest music company in the world,^[6] it is one of the "Big Three" record labels, along with Sony Music Group and Warner Music Group. Tencent acquired ten percent of Universal Music Group in March 2020 for €3 billion^[7][8][9] and acquired an additional ten percent stake in January 2021.^[10] Pershing Square Holdings later acquired ten percent of UMG prior to its IPO on the Euronext Amsterdam stock exchange. The company went public on September 21, 2021, at a valuation of €46 billion.^[11][12]