Vivendi

The deal comes ahead of Universal Music Group's plans for an IPO this September.

On average, the music giant was earning $1.29 million an hour throughout the quarter.

The strong numbers pave the way for a successful IPO in Amsterdam later in the year.

UMG said “we’ll remain committed to our artists and songwriters" throughout its IPO.

Vivendi revealed 'an IPO is planned for 2022'.

The world is in lockdown, all gigs are off, and the path ahead is a tricky one. The enormous streaming business, however, should tick along just fine in the months ahead. That’s the upbeat line from…

Tencent wants to help UMG "identify and promote new talents in new markets."

Vivendi CEO Arnaud de Puyfontaine stressed in the report that the sale was on track.

UMG is on track to generate over $9.7 billion in the 2019 calendar year.

Among the main suitors are China’s Tencent Music Entertainment Group.