UPDATE 2-Universal Music to sell half its Spotify stake for buybacks, Q1 hit by weak dollar
Published on: April 29, 2026, 10:37 p.m. | Source: Devdiscourse
The decision allows UMG to honour its "Taylor Swift clause" - a commitment made in 2018 when the pop star re-signed with the label on the condition that any proceeds from a Spotify stake sale would be shared with all artists on a non-recoupable basis. UMG said it also planned to launch an additional 500-million-euro share buyback, subject to shareholder approval at its annual general meeting, doubling its total buyback authorisation.
