Universal Music Group loses $16B in market value, plunging 24% after weak streaming reveal
Universal Music Group’s stock plunged 24% on Thursday, erasing more than $16 billion in market value after it revealed its revenue growth from subscription and streaming services fell below expectations. The Netherlands-based music industry giant – behind big names including Taylor Swift and Billie Eilish – saw its market capitalization tumble to $39.9 billion, down … Read more