Universal Music Group (UMG), the world’s largest music company and home to global stars like Taylor Swift, Drake, and Lady Gaga, has taken a step toward listing its shares on the US stock market.

Already listed in the Netherlands with a valuation close to €50 billion ($58.5 billion), the company has filed a confidential statement with the US Securities and Exchange Commission (SEC), signaling its plans to sell shares in the United States.

The company’s roster also features other top artists such as Billie Eilish, Ariana Grande, and Harry Styles, strengthening its position as a dominant force in the music industry.

This move comes at a time when major US stock indexes like the S&P 500 and Nasdaq Composite have recently hit record highs following a recovery from concerns related to US tariff policies.

UMG did not disclose the size or potential funds to be raised from the US offering, explaining that the confidential filing allows it to keep details private while discussing with regulators and evaluating investor interest.

The final public offering remains subject to SEC approval.

Bill Ackman’s hedge fund, Pershing Square, one of UMG’s largest shareholders, has been a vocal supporter of a US listing. Earlier this year, Ackman stated that such a move would increase UMG’s value and improve the liquidity of its shares.

UMG owns several major record labels, including Motown Records, which represented legendary artists like Marvin Gaye and Michael Jackson, as well as Capitol Music Group, known for acts such as The Beatles and Katy Perry.

In 2024, the company was involved in a high-profile dispute with TikTok over music royalties. This disagreement led to the temporary muting or removal of UMG’s music on the platform until an agreement was reached in May of that year.