Universal Music

"The speed and quantum of the slowdown in subscription revenues caught the company and analysts by surprise," JPMorgan analysts said in a note

The commercial success of Swift has boosted the group's earnings through royalties from streaming, album sales and concert tickets

Tiktok, in a statement to Reuters, referred to UMG's narrative as "false" and said UMG's actions were not in the best interests of artists, songwriters and fans

Universal Music Group's shares surged at the start of trading on Tuesday, as the company behind singers such as Lady Gaga and Taylor Swift made its stock market debut

The original deal would have valued the home of Taylor Swift, Drake and Billie Eilish at 35 billion euros ($41.3 billion) including debt.

Till the pandemic struck in March 2020, film music was over 70 per cent of the market. The restrictions around Covid meant that not many new films or music were released

A deal of that size, if completed successfully, would mark the biggest-ever merger involving a so-called special purpose acquisition company

The purchase will bring Tencent's holding in the music group to 20 per cent following a deal last year for a stake at the same valuation

The price was not disclosed, but is estimated at more than $300 million

The ubiquity of the Internet on computers and mobile phones has made cross-cultural consumption substantially easy

The products, will be available under the global music merchandise label Bravado