In the wake of new Spotify deal, Universal Music adds $3.4 billion to its market cap

Off the back of yesterday’s Spotify/UMG pact announcement, today (January 27), Universal Music Group’s share price on the Amsterdam Euronext has risen by a whopping 7.35% vs. the stock’s closing price on Friday. This jump has had a significant impact on UMG’s public valuation. According to MBW’s calculations, at the close of Friday, UMG had a public market cap of approximately EUR €44.30 billion, or around USD $46.47 billion at current exchange rates.

Source: In the wake of new Spotify deal, Universal Music Group adds $3.4 billion to its market cap; Warner Music Group shares up 4.7% as investors await similar agreement with streamer