1050 GMT - Universal Music Group should come to agreements with Spotify and Apple Music for it to truly benefit from a recently expanded partnership with Amazon Music, UBS analysts write in a research note. Universal Music agreed to work with Amazon to explore new product opportunities as Amazon Music continues to expand in audio, audiobooks and visual programming. The companies also agreed to work to address unlawful AI-generated content and protect artists from fraud. The analysts say that if Universal Music comes to similar agreements with other major platforms, Universal's paid streaming revenue growth could accelerate toward mid-teen percentages next year. Universal Music shares trade 0.4% lower at 24.07 euros. (mauro.orru@wsj.com)
(END) Dow Jones Newswires
January 13, 2025 05:51 ET (10:51 GMT)
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