Jem Aswad-Senior reports 2020 Music Jem Aswad-Senior

Universal Music Group Valued at $53 Billion in New Goldman Sachs Report

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variety.com

Jem Aswad Senior Music EditorGoldman Sachs’ annual “Music in the Air” study is widely recognized in the music industry as an optimistic but authoritative survey of the business — and yet again, it will make Universal Music Group very happy, as it has valued the company at a whopping $53 billion ahead of its IPO, expected this fall.That’s up from the $36 billion posited in last year’s report, and shows the strength of the recorded-music and publishing businesses, which are primary among UMG’s many properties, despite the pandemic that has flattened other sectors of the industry, particularly live entertainment (which Goldman projects will climb to $12.7 billion this year, from a dismal $4.8 billion in 2020, but obviously there are many.

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