Making a Scene Presents - Universal Music’s Stock Crash Is a Warning About Building a Career on Streaming Alone
The Music Business Had a Very Bad Day

On July 31, 2026, Universal Music Group had the kind of day that gets the attention of everyone in the music business. Shares of the world’s largest music company lost roughly one-quarter of their value in Amsterdam. It was Universal Music Group’s worst trading day since the company became publicly traded in September 2021. The decline erased approximately $10 billion from the company’s market value, based on the exchange rate at the time.

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