Universal Music Group (UMG) is set to sell half of its stake in Spotify, making a total of $3.3 billion in revenue. The move comes after Bill Ackman's Pershing Square submitted a bid to buy the company, which included plans to sell UMG's Spotify stake. As of 2025, UMG owned nearly 6.5 million shares in Spotify. This equates to approximately 3.16 percent of the company. The company reported flat year-over-year revenue for the first quarter, with an 8 percent increase when measured in constant currency. The sale of an individual Spotify share is worth about $450, making it worth approximately $1.4 billion.