Universal Music Group (UMG) has closed a €500 million (roughly $568.5 million) share repurchase programme, acquiring about 26.7 million of its own shares since the initiative began earlier this year.
The company confirmed the programme’s completion after buying 634,455 shares between 20 and 24 July at an average price of €18.14 per share. Those final transactions totalled approximately €11.5 million, bringing the aggregate outlay under the programme to €499.2 million.
“Universal Music has now completed the share buyback programme,” the company stated.
In May, shareholders authorised UMG to double the size of the relevant buyback tranche to €1 billion. That additional capacity is separate from the now-completed €500 million programme. A portion of subsequent share purchases was tied to the sale of stock previously held by Pershing Square after the investment firm’s unsuccessful attempt to acquire a stake in UMG.
The buyback was initiated in the wake of Pershing Square’s pursuit of that investment, alongside UMG’s own plans to sell part of its Spotify stake. The episode also focused attention on UMG’s financial reporting and the depth of information 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 offer investors more detail on UMG’s financial performance, including the potential contribution of partnerships involving artificial intelligence.
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 point in July 2025.
Warner Music Group‘s shares have also declined over the past year, falling roughly 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 horizon, both major music companies have seen significant share price drops, with UMG down about 19% and Warner Music Group nearly 27% over the past five years.
