VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

American Tower Corporation vs Universal Music Group N.V.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

American Tower Corporation

AMT · New York Stock Exchange

Market cap (USD)
SectorReal Estate
CountryUS
Data as of2025-12-31
Moat score
76/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into American Tower Corporation's moat claims, evidence, and risks.

View AMT analysis

Universal Music Group N.V.

UMG · Euronext Amsterdam

Market cap (USD)
SectorCommunication Services
CountryNL
Data as of2025-12-28
Moat score
77/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Universal Music Group N.V.'s moat claims, evidence, and risks.

View UMG analysis

Comparison highlights

  • Moat score gap: Universal Music Group N.V. leads (77 / 100 vs 76 / 100 for American Tower Corporation).
  • Segment focus: American Tower Corporation has 3 segments; Universal Music Group N.V. has 3 segments (75.2% in Recorded Music).
  • Moat breadth: American Tower Corporation has 6 moat types across 4 domains; Universal Music Group N.V. has 5 across 3.

Primary market context

American Tower Corporation

U.S. & Canada Communications Sites

Market

Wireless communications site leasing (macro towers, rooftops and DAS)

Geography

United States and Canada

Customer

Wireless carriers and other tenants (broadcast, data, government/municipal)

Role

Independent owner/operator of communications real estate (towerco)

Universal Music Group N.V.

Recorded Music

Market

Recorded music rights (labels) and monetization (streaming, physical, licensing/sync)

Geography

Global

Customer

Digital service providers (audio/video/social), physical retailers, and licensing counterparties

Role

Label / master rights holder; artist development, marketing and distribution

Revenue share

75.2%

Side-by-side metrics

American Tower Corporation
Universal Music Group N.V.
Ticker / Exchange
AMT - New York Stock Exchange
UMG - Euronext Amsterdam
Market cap (USD)
n/a
n/a
Sector
Real Estate
Communication Services
HQ country
US
NL
Primary segment
U.S. & Canada Communications Sites
Recorded Music
Market structure
Oligopoly
Oligopoly
Market share
n/a
31%-33% (estimated)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
76 / 100
77 / 100
Moat domains
Demand, Legal, Supply, Network
Legal, Supply, Demand
Last update
2025-12-31
2025-12-28

Moat coverage

Shared moat types

Long Term Contracts

American Tower Corporation strengths

Permits Rights Of WayPhysical Network DensitySwitching Costs GeneralInteroperability HubCapacity Moat

Universal Music Group N.V. strengths

Content Rights CurrencyScale Economies Unit CostBrand TrustService Field Network

Segment mix

American Tower Corporation segments

Full profile >

U.S. & Canada Communications Sites

Oligopoly

n/a

International Communications Sites

Oligopoly

n/a

Data Centers

Competitive

n/a

Universal Music Group N.V. segments

Full profile >

Recorded Music

Oligopoly

75.2%

Music Publishing

Oligopoly

17.9%

Merchandising and Other

Competitive

7.1%

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.