Sept 16 (Reuters) - Taylor Swift's music label Universal

Music Group holds its first capital markets day on

Tuesday, nearly two months after it posted lower-than-expected

second quarter streaming and subscription revenue, knocking 24%

off its share price.

Analysts have stressed the importance of the event at

London's Abbey Road studios as an opportunity for UMG to spell

out how it plans to restore slowing subscriber growth.

"We expect the company to discuss its vision for the

industry and its medium-term ambitions," Deutsche Bank analyst

Silvia Cuneo said in a preview note.

UMG's shareholders include tycoon Vincent Bollore and Bill

Ackman's Pershing Square. Vivendi, which has a

9.98% stake, had no comment on the event, which Citi analysts

said will offer "an opportunity to reset the equity narrative".

UMG did not respond to requests for comment.

Since reaching a low of 21.29 pence in July, UMG's shares

have risen by 10%. However, they are trading 17% below their

level before the warning and are at their lowest since November.

Citi's analysts said they were looking to see whether UMG

will diversify beyond recorded music as they estimate a

substantial opportunity in supporting markets.

"The onus is very much on the group to show how it will

re-invigorate growth," they said in a research note.

UMG's recorded music accounted for 76% of first-half group

revenue and reached 4.2 billion euros ($4.7 billion).

"We expect encouraging commentary around the group's long

term growth potential but see it as unlikely we receive positive

surprises on further cost savings, capital allocation,

guidance," UBS analysts said in note.

($1 = 0.8989 euros)