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Universal Music Group hits post-IPO low on weak subscription revenue

Bloomberg ·

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  1. 1Universal Music Group (UMG NA) shares plunged to their lowest level since its IPO
  2. 2Subscription revenue, including the Downtown Music Holdings acquisition, rose 16.6% on a constant-currency basis, missing the 19.2% estimate
  3. 3The world's largest record label reported disappointing subscription revenue growth, triggering the move

This 3-line summary is compiled from the report below.

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