UNIVERSAL MUSIC GROUP EO1

Universal Music Group is the largest of the three major global record labels with Sony Music in second and Warner Music in third. Universal's larger segment, recorded music, consists of iconic labels like Interscope, Capitol Music, Decca, EMI, and Motown and popular artists such as Drake, Taylor Swift, J Balvin, and Luke Bryan. Universal Music Publishing Group owns and administers almost four million compositions and is the second-largest music publisher behind Sony. Universal Music was spun out of Vivendi in September 2021 with 60% distributed to Vivendi shareholders, 20% to Tencent, 10% to Pershing Square Capital, and 10% remaining at Vivendi.