By Charlotte Eugenie Yvette Bawol and Stephanie Hamel

(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)

(Reporting by Charlotte Bawol and Stéphanie Hamel; Editing by Alexander Smith)