Universal Music Group Now Valued At $22 Billion

(Hypebot) – 5 years ago many in the industry thought that the major labels were headed for extinction. Now, owner Vivendi values its own Universal Music Group at $22 billion.

Universal Music Group is worth $22 billion, according to owner Vivendi's General Counsel Frédéric Crépin.

The turnaround and meteoric rise were furled by streaming music revenue.

Some stats for comparison:

Warner Music Group sold for $3.3 billion in 2012

EMI's recorded music business sold for $1.9 billion in 2012

Outside buyers offered $8.5 billion for IMG in 2012 and $15 billion in 2015.