{
  "docId": "019de077-8089-70a8-af4b-7abc3eaa282b",
  "docSlug": "38b666bcb7607dce4178f9a0f3665606",
  "documentTitle": "Pershing Square | Investor Presentation Deck | 75 slides",
  "authorId": "pershing-square",
  "authorName": "Pershing Square Holdings",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2025-02-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2938006,
  "pageNumber": 46,
  "pageCount": 75,
  "prevPage": 45,
  "nextPage": 47,
  "slideType": "other",
  "function": "analyze_data",
  "density": "overcrowded",
  "nDataPoints": 1,
  "notes": "The chart includes a horizontal dashed line representing the 'Average Negotiated Purchase Price' of €18.27.",
  "elementsJson": null,
  "metadataConfidence": 0.95,
  "imagePath": null,
  "slideHref": "/slides/019de077-8089-70a8-af4b-7abc3eaa282b/46",
  "deckHref": "/decks/019de077-8089-70a8-af4b-7abc3eaa282b",
  "deckJsonHref": "/decks/019de077-8089-70a8-af4b-7abc3eaa282b.json",
  "deckAnchorHref": "/decks/019de077-8089-70a8-af4b-7abc3eaa282b#slide-46",
  "components": [
    {
      "bbox": {
        "h": 0.15,
        "w": 0.18,
        "x": 0.14,
        "y": 0.032
      },
      "kind": "callout",
      "text": "9/21/21: UMG completes separation from Vivendi and begins trading on the Euronext Amsterdam",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b74afeb5-b41b-4734-83db-3b444b76c0bc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.15,
        "x": 0.82,
        "y": 0.03
      },
      "kind": "callout",
      "text": "1/15/25: UMG announces intention to pursue U.S. listing by September 2025",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ddd047e5-d2f5-4006-8ac9-024b6dba788c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.18,
        "x": 0.33,
        "y": 0.032
      },
      "kind": "callout",
      "text": "10/24/22: Apple Music increases prices by 10% to 20%. YouTube increases its premium family plan's pricing by 28%",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e0b19d11-e87f-4b1a-b666-8a6d9eb261be",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.18,
        "x": 0.53,
        "y": 0.03
      },
      "kind": "callout",
      "text": "11/21/23: Spotify announces changes to royalty model to drive $1 billion towards professional artists",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e21d5237-3ec8-4091-97a4-73de53d9514f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.52,
        "w": 0.92,
        "x": 0.05,
        "y": 0.32
      },
      "kind": "chart",
      "text": "UMG Share Price Performance from 9/21/2021 to 2/10/2025 (€EUR)",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6256ff43-1053-4028-a1a8-8a1afeaaa001",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.95,
        "x": 0.04,
        "y": 0.088
      },
      "kind": "disclaimer",
      "text": "Note: The performance of UMG's share price is provided for illustrative purposes only...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9257e156-e0e4-488d-8460-2c85b4a8fdad",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.92,
        "x": 0.04,
        "y": 0.18
      },
      "kind": "title",
      "text": "UMG's share price including dividend reinvestment decreased 2% in 2024 and has increased 12% year-to-date in 2025(1)",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5cb058e9-e296-47a4-a0c9-e5bf94e3c8a9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.75,
        "x": 0.04,
        "y": 0.09
      },
      "kind": "title",
      "text": "UMG Share Price Performance Since IPO",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2b3cdd3e-d336-4a66-a719-b088da229a11",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Before-After-Bridge",
      "slug": "before-after-bridge",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "b6cccbc0-f39d-4e5a-bb7d-89d82c1b07b4",
      "evidence": "UMG's share price including dividend reinvestment decreased 2% in 2024 and has increased 12% year-to-date in 2025(1)",
      "confidence": 0.8
    }
  ],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}