Universal Music Group (UMG) is staying put in Amsterdam for now. During a financial results call on March 5, 2026, the music giant confirmed it has indefinitely suspended its plans for a secondary stock listing in the United States. Chairman and CEO Sir Lucian Grainge pointed to "meaningful dislocation" in current market valuations as the primary reason for the sudden pivot.

While the Wall Street move is on ice, UMG’s balance sheet remains massive. The company reported a robust annual revenue of €12.5 billion ($13.2 billion) for the full year 2025. This performance was bolstered by strong streaming numbers and physical sales, though net profits saw a significant 26.5% decrease. CFO Matt Ellis attributed that decline to non-cash revaluations of the company's various equity investments.

The decision follows months of speculation about UMG joining the New York Stock Exchange to attract a broader base of American investors. However, UMG leadership informed investors that current equity market volatility makes a U.S. debut unfavorable at this time. For now, the home of Taylor Swift and Drake will continue trading exclusively on the Euronext Amsterdam.