[158], On February 5, 2019, John Waite and Joe Ely filed a class-action lawsuit against UMG claiming the company is violating their right to terminate grants of copyright after 35 years in accordance with copyright law of the United States by ignoring Notices of Termination. In September 2021, IPO, Euronext Amsterdam announces an introduction price of 18,50[clarification needed] and Vivendi set an initial valuation for UMG at 33 billion ($38.3 billion). Our core business is well positioned for a strong 2022, which aligns with the plan we have set to achieve our previously announced mid-term targets.. Universal Music Group N.V. Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2021 Summary FY 2021 Results[1] Revenue of 8,504 million, representing growth of 17.0% year-over-year in constant currency, driven by strong growth across all segments All rights reserved. In 2020, Tencent acquired 20% stake in the label. CEO Lucian Grainge Stock Symbol AMS: UMG Vivendi's music unit UMG worth more than $40 billion, CEO says With more than 1.813 billion shares outstanding, the music powerhouse would at that price have a market valuation of about 33.5 billion euros ($39.3 billion). The Guardian pointed out that Grainges bonus comes from Universal Musics 2021 IPO as well as Tencent buying a 10% stake in the company. Arnaud de Puyfontaine, CEO, Vivendi The MBW Review offers our take on some of the music biz's biggest recent goings-on. Operating profit improved 14.6%, or 15.4% in constant currency, to 1,399 million in 2021 driven by the growth in revenues. Universal's take of Geiger's "conservatively" projected industry total of $74 billion a decade from now, based on the label's 40% market share, comes in just shy of $30 billion. Lucian Grainge Net Worth, Bio, Age. Wife, Salary, Son, Samantha, UMG [75][76], In April 2017, UMG signed a new multi-year licensing agreement with Spotify, the world's leading streaming service, and in May 2017, UMG signed a deal with Tencent, China's biggest gaming and social media firm. He has a net worth of $810 million, which . Whilst hailing the opportunities that the accessibility of streaming offers, Bevan called for an urgent need for the levelling out of the way revenue from a song is divided up. is in an oddly inert place right now. She has also been featured in an original music video on. Lucian Grainge will become CEO, replacing Doug Morris who will remain the company's chairman. [148], Howard King filed a lawsuit in Los Angeles on June 21, 2019, on behalf of Soundgarden, Hole, Steve Earle, the estate of Tupac Shakur and a former wife of Tom Petty that seeks class action status for artists whose master recordings were believed to have been destroyed in the Universal Studios fire. [153][154], UMG denied that the takedown was ordered under the terms of the Digital Millennium Copyright Act, and said that the takedown was "pursuant to the UMG-YouTube agreement," which gives UMG "the right to block or remove user-posted videos through YouTube's CMS (Content Management System) based on a number of contractually specified criteria. [60] In May 2013, Japanese company SoftBank offered $8.5billion to Vivendi for the acquisition of UMG, but Vivendi rejected it. By. Metro Boomin. For Universal Records 19881989, see, 2004: Consolidating into a Vivendi subsidiary, 20072012: UMG acquisitions and EMI purchase, 20122017: EMI integration and divisions reorganization, 2018present: Continued growth and public trading, Last edited on 14 February 2023, at 21:54, following the country's invasion of the Ukraine, United States District Court for the Northern District of California, "Universal Music Group N.V. Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2021", "Universal Music Group Prospectus 14 September 2021", "Tencent in Talks for Stake in Record Label of Ariana Grande, Queen", "Sir Lucian Grainge: After Tencent deal 'our strategic vision remains the same', "Tencent Agrees to Buy 10 Percent of Universal Music Group", "Tencent's Universal Music Group acquisition is now official", "Vivendi: the Tencent-led consortium has completed the exercise of its call option and now owns 20% of UMG's share capital - Vivendi", "Universal hits massive valuation of $54bn as it lists on Amsterdam Stock Exchange", "Universal Music Group shares soar in market debut", "The World's Most Innovative Companies 2019: Music Honorees", "How $33 billion Universal Music Group is redefining the modern music label", "The Origin & Many Uses of Shellac by R.J. Wakeman", "Pioneers' Dream Becomes Reality With Decca", "HITS Daily Double: Rumor Mill - A BRIEF HISTORY OF MCA RECORDS", "It's a Wrap: MCA Sold: Matsushita to Pay About $6.6 Billion", "Seagram heads for Hollywood; Seagram will buy 80% of big studio from Matsushita", "Matsushita, Freed of MCA, Reports a Profit", "MCA changes name to Universal Studios Inc", "Hundreds of Jobs Lost in Universal Mega-Merger", "Universal Music Group Out into the Wild: The Story Behind its IPO BSIC | Bocconi Students Investment Club", "Universal buys troubled Sanctuary for 44.5m", "Maestros of the Concert Merchandise Movement", "Bloomingdale's Teams With Universal Music Group and Bravado for Major Retail Promotion", "A Rolling Stones pop-up shop is coming to Selfridges", "How Spotify Built a $20 Billion Business by Changing How People Listen to Music", "Vivendi Appoints Lucian Grainge Chairman & CEO of Universal Music Group", "Citigroup Sells EMI in Parts for $4.1 Billion to Vivendi, Sony", "EU opens investigation into Universal, EMI deal", "Universal's 1.2bn EMI takeover approved with conditions", "Universal's Capitol takes shape: Barnett in, Beatles on roster", "Universal Closes on EMI Deal, Becoming, by Far, Biggest of Remaining Big Three", "FMQB: Radio Industry News, Music Industry Updates, Nielsen Ratings, Music News and more! This time, look at the surprising, out-of-the-blue valuation of Universal Music Group at over $40bn - backed up by Vivendi's CEO. In July 2018, JPMorgan said that UMG could be worth as much as $40 billion and then increased the valuation to $50 billion in 2019. Taylor Swift Generated $230 Million In Revenue For Universal Music This came two months after the separation of Warner Music Group from Time Warner. Accordingly, UMG cautions readers against placing undue reliance on such forward-looking statements. pre-order now. enter the sultry sleepless world of "Lavender Haze." watch now. And we expanded our partner portfolio into emerging growth areas such as health and fitness, Web3 and social video. (Paris-based Vivendi is currently sitting at around a 28bn market cap on the stock exchange in Europe.) Net cash provided by/(used for) operating activities Adjustments [83], In November 2017, USC Annenberg announced UMG's partnership in the "Annenberg Inclusion Initiative", becoming the first music company to do so. They claimed that the recording of "God Save the Queen" was copyrighted, and YouTube initially complied with this request, but subsequently offered the video with the original audio track. The past year's boom in music assets shaped Billboard's biggest list yet of the industry's leaders including a tally of its top 25 executives, led by UMG chairman/CEO Sir Lucian Grainge. The 2021 annual report has not yet been published and an auditors opinion has not yet been issued. ", "Analysis: BMG Poised to Become a Top Indie Catalog Following Sanctuary Acquisition", "Warner Music Group Buys EMI Assets for $765 Million", "Warner to buy the Parlophone Label Group", "Universal Music Sells Now! [114], In October 2022, Mercedes-Benz launched a new in-car audio collaboration with Apple Music and Universal Music Group. [49], On February 8, 2013, Warner Music Group acquired the Parlophone Label Group (consisting of Parlophone Records, Chrysalis Records, EMI Classics, Virgin Classics and EMI Records' Belgian, Czech, Danish, French, Norwegian, Portuguese, Spanish, Slovak and Swedish divisions) for $765million (487million). [145] Representatives for R.E.M. Are Universal Music Group internships paid? Actual results may differ materially from such forward-looking statements as a result of a number of risks and uncertainties, many of which are related to factors that are outside UMGs control, including, but not limited to, UMGs inability to compete successfully and to identify, attract, sign and retain successful recording artists and songwriters, failure of streaming and subscription adoption or revenue to grow or to grow less rapidly than anticipated, UMGs reliance on digital service providers, UMGs inability to execute its business strategy, the global nature of UMGs operations, UMGs inability to protect its intellectual property and against piracy, UMGs inability to attract and retain key personnel, changes in laws and regulations and the other risks that will be described in the annual report. These non-IFRS measures (also known as alternative performance measures) are presented because management considers them important supplemental measures of UMGs performance and believes that they are widely used in the industry in which UMG operates as a means of evaluating a companys operating performance and liquidity. [53] With EMI's absorption into Universal Music complete, its British operations consist of five label units: Island, Polydor, Decca, Virgin EMI and Capitol. Were an independent distributor working with unsigned artists to put their music online for free. "[155] The video was subsequently returned to YouTube, with the reasons for the UMG takedown remaining unclear. Ten percent of Universal Music Group was acquired by Tencent in March 2020 for US$3 billion.nUniversal Music Group.nUMG's headquarters in Santa Monica, Californian. The increase in Adjusted net profit was driven by the growth in EBITDA. Ad-supported streaming was particularly strong, due to the ongoing improvement in ad-based monetization and new and enhanced deals in social media. In January 2011, UMG announced it was donating 200,000 master recordings from the 1920s to 1940s to the Library of Congress for preservation. All of that said, Universals sheer heavyweight power in the music industry with a 30%-plus global market share of total recorded music revenues plus its almighty owned catalog will be the primary factor fuelling investor confidence in its spin-out, and its ultimate valuation. It's Getting an Upgrade", "Vivendi Enters Talks With Tencent to Sell Stake In Universal Music Group", "Tencent in Talks to Buy 10% of Universal Music Group", "Universal Music Group Planning IPO Within Next Three Years", "THE LEGO GROUP AND UNIVERSAL MUSIC GROUP JOIN TO EXPAND CHILDREN'S CREATIVE PLAY THROUGH THE POWER OF MUSIC", "Virgin EMI rebrands as EMI, Rebecca Allen appointed as label president", "UNIVERSAL MUSIC GROUP EXPANDS IN THE MIDDLE EAST AND NORTH AFRICA", "Spotify, Universal Music Group Reach Multiyear, Global Licensing Deal", Majority of Icelandic Music Catalogue Sold to Universal Music, "Exclusive: Universal Music to develop collectible NFTs in deal with Curio platform", "Universal Music Group assigned Baa1 and BBB long-term credit ratings by Moody's and S&P", "Mercedes-Benz Launches new Audio Collaboration With Apple Music & Universal Music Group", "SHERRY LANSING NAMED CHAIRMAN OF THE BOARD OF UNIVERSAL MUSIC GROUP N.V.", "Universal Music Group and Google Partner for Vevo", "Announcing VEVO, a Partnership with Universal Music Group", "Universal to Create Hulu-like Music Video Site", "Steve Barnett to lead Capitol Music Group", "Cindy Oliver Q&A: Getting to Know the EVP in Charge of Doling Out the Dough to Universal Music Artists", "Universal Music Moving UK Headquarters from Kensington to King's Cross", "Universal Music Canada Relocating to 'Rock Star Building' in Downtown Toronto", "Universal Group suspends all operations in Russia", "USATODAY.com - States settle CD price-fixing case", "5 Music Companies Settle Federal Case On CD Price-Fixing", "A Landmark Legal Battle Over a Toddler Dancing to Prince Song Looks to Be Ending", "The Non-Legacy of the Dancing Baby Case", "Universal Music Group Backs Off Claims to Michelle Malkin Video", "Ok, Now It's Done. Universal Music Group - Overview, News & Competitors - ZoomInfo [94][95] In September 2018, singer Elton John signed a global partnership agreement with UMG across recorded music, music publishing, brand management, and licensing rights. The CEO of Universal Music earned more in 2021 than all the sales and [71], In 2015, UMG's Capitol Records earned all the major Grammy Awards for the year, with Sam Smith receiving Best New Artist, Record of the Year and Song of the Year awards and Beck winning Album of the Year. indicates % change year-over-year adjusted for constant currency. Monte Lipman - Founder & Chi.. - Universal Music Group | ZoomInfo We want to hear it. Adjusted EBITDA margin is Adjusted EBITDA divided by revenue. Universal Music Group Reviews - Glassdoor . Merchandising and Other revenue grew to 363 million, up 24.3% year-over-year, or 27.4% in constant currency, as retail revenues grew and touring-related merchandising revenue, which was impacted by a COVID-related shut down in live touring in 2020, began to return. 92 Universal Music Group reviews. Whilst a large net worth seems reasonable for the CEO of one of the biggest music conglomerates on the planet one that was making a million dollars an hour in the first quarter of this year the giant bonus feels like a further insult. Editors picks In settlement of the claim, the companies collectively agreed to pay a $67.4 million fine and distribute $75.7 million in CDs to public and non-profit groups. Analysts suggest that the world's biggest music rights-holder could be worth three times its current public valuation. The music icon & global superstar drops new single "Kant Nobody" feat. Taylor, Darren Rodney (PDF, 154KB) Death in custody, natural causes. This press release includes certain alternative performance indicators which are not defined in IFRS issued by the International Accounting Standards Board as endorsed by the EU. We are a community of entrepreneurs committed to creativity and innovation. He served in this position until 2010. [149][150], On December 9, 2011, Megaupload published a music video titled: "The Mega Song", showing artists including Kanye West, Snoop Dogg, Alicia Keys and will.i.am endorsing the company. In 2021, Universal Music Group generated 8.5 billion euros in revenue, up from 7.43 billion in the previous year. Aerosmith Hands Entire Catalog to Universal Music Group, considering a proposal to spin out 60% of the worlds biggest music company. UMGs Recorded Music, Music Publishing and Merchandising and Other segments all had strong, double-digit revenue growth, as discussed further below. [102], In June, YouTube and UMG announced that they were upgrading more than 1,000 popular music videos to high definition, releasing them through 2020. In 2019, the company is at a valuation of $50 billion.
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