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Podcast: The Intrinsic Value Podcast - The Investor’s Podcast Network
Episode: TIVP039: Universal Music Group (UMG): Owning The World’s Music Catalog w/ Shawn O’Malley & Daniel Mahncke
Description: Shawn O’Malley and Daniel Mahncke break down Universal Music Group (ticker: UMG), a company that controls a royalty stream on roughly ⅓ of the world’s music in an oligopolistic industry also dominated by Sony and Warner Music Group. Universal has incredibly high-quality earnings, with a very stable business and excess returns on capital — a recipe that is very appealing to investors at the right price.
In this episode, you’ll learn about the economics of the music industry, how Universal creates value for artists, what the company is doing in response to AI, the mutually dependent relationsh...