UMG completes $568.5m share buyback programme

The company confirmed the completion of the programme after purchasing 634,455 shares between 20 and 24 July at an average price of €18.14 per share. The latest transactions amounted to approximately €11.5 million, bringing total spending under the programme to €499.2 million.

“Universal Music has now completed the share buyback programme,” the company said.

UMG received shareholder authorisation in May to double the size of the relevant buyback tranche to €1 billion, although the additional funds are separate from the €500 million programme that has now been completed. A portion of subsequent share purchases was linked to the sale of shares previously held by Pershing Square following the investment firm's unsuccessful attempt to acquire a stake in UMG.

The buyback programme was launched after Pershing Square pursued the investment, alongside plans by UMG to sell part of its stake in Spotify. The episode also drew attention to UMG's financial reporting and the level of detail provided to investors about its earnings and investments.

Following the company’s first-quarter results, UMG chief executive officer Lucian Grainge said: “In subsequent earnings calls, we’re going to be providing greater insight into the ways we have evaluated investments in our business.”

The increased disclosure is expected to give investors more information about UMG’s financial performance, including the potential contribution of partnerships involving artificial intelligence (AI).

UMG shares, listed on Euronext Amsterdam under the ticker UMG, were trading at about €18.94 per share. The stock has recovered from a record low of €15.41 in March but remains below its level at the same time in July 2025.

Warner Music Group’s shares have also declined over the past year, falling about 11% from their July 2025 level. The company's stock has, however, risen from a 52-week low of $23.34 reached in March 2026.

Over a longer period, both major music companies have experienced significant declines in their share prices, with UMG down about 19% and Warner Music Group nearly 27% over the past five years.