Streaming Music To Vivendi Ears
With the rise of streaming services, Universal Music, the parent company of Vivendi, is seeking to cash in with an initial public offering.
Vivendi CEO Arnaud de Puyfontaine said the French media conglomerate could float a minority stake in the music company, departing from the company’s long-standing opposition to selling any part of the California-based music company.
Times are a-changing. Record labels that once suffered steep losses on CD and unit sales are now growing again as Spotify and other services pay licence fees for the rights to stream songs from their libraries.