License and other revenue improved 15.5% year-over-year, or 16.5% in constant currency, as a result of improvements in broadcast and neighboring rights collections, audio-visual production income and synchronization, live and brand deals. Head here to find out how our free music distribution can get your music heard. More Importantly, Who Should Do It? Universal Music Group N.V.[3] (often abbreviated as UMG and referred to as just Universal Music) is a DutchAmerican multinational music corporation under Dutch law. The company represents artists such as Justin Bieber, Lady Gaga, and Kanye West, and has partnered with retailers including Barneys, Bloomingdale's and Selfridges. Committed to artistry, innovation and entrepreneurship, UMG fosters the development of services, platforms and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. 2. Universal Music Publishing Group net worth Mar, 2023 - People Ai Vivendi's music unit UMG worth more than $40 billion, CEO says 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. [124] Company's legal headquarters are in the Netherlands. EBITDA margin is EBITDA divided by revenue. Additionally, as part of the changes to the labels, Motown Records transferred to Los Angeles to become part of the Capitol Music Group and previous Vice President Ethiopia Habtemariam was promoted to Label President for Motown Records. We are Universal Music Group, the world's leading music company. - Dallas-Fort Worth, TX Area - Dallas, TX - Houston, TX Area - Missouri City, TX - Houston, TX . estimated UMG might be worth somewhere between $29 billion and $42 billion. Subscription and streaming revenue grew 16.9% year-over-year, or 19.8% in constant currency, with strong growth in both subscription and ad-supported streaming revenues. Universals labels are now signing more generous deals with superstar artists like Taylor Swiftthan ever before. [107], On June 16, 2020, Universal rebranded Virgin EMI Records as EMI Records and named Rebecca Allen (former president of UMG's Decca label) as the label's president,[108] bringing back the EMI brand. Send us a tip using our anonymous form. [101], UMG was named to Fast Company's annual list of the World's 50 Most Innovative Companies for 2019, the first major music company to be included on the list in a decade. Subscribe. Top sellers in the prior year included The Weeknd, Billie Eilish, Post Malone, Lil Baby, Pop Smoke and BTS. Morgan Wallen. This compares to 10 million in non-cash share-based compensation expense in the prior year. This time, look at the surprising, out-of-the-blue valuation of Universal Music Group at over $40bn - backed up by Vivendi's CEO. impairment losses on goodwill and other intangibles; other income and expenses related to transactions with shareowners (except when directly recognized in equity); depreciation of tangible assets including right of use assets; (gains)/losses on the sale of tangible assets, included right of use assets and intangible assets; impairment losses on goodwill and intangible assets; other charges and income related to transactions with shareowners; financial income and expenses, excluding interest and income from investments; non-cash share-based compensation expenses; certain one-time items that are deemed by management to be significant and incidental to normal business activity; income taxes and adjustments attributable to non-controlling interests; and. The 2021 annual report has not yet been published and an auditors opinion has not yet been issued. Sort. [139] All traffic was redirected to MySpace after that company acquired Imeem on December 8, 2009. Universal Music Group (UMG) is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising and audiovisual. Sir Lucian Grainge, UMGs Chairman and CEO, said, 2021 was yet another historic year for UMG. 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. Were not anti-major label here at RouteNote, but we think there should be another option for artists to release music that doesnt involve signing away their rights to a huge multinational. Some think Tencent got an absolute bargain. Former chairman/CEO of Universal Music International Lucian Grainge was promoted to CEO of the company. [82], In October 2017, UMG announced the launch of its Accelerator Engagement Network, an initiative aimed to help develop music-based startups around the world. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Sign up to our newsletter and make sure you don't miss a thing! EBITDA margin was 17.4%, compared to 21.6% in the fourth quarter of 2020. [68] Barry Weiss, who previously moved from Sony Music to lead Island Def Jam Music in 2012 when Motown Records was incorporated into Island Def Jam, stepped down from Universal Music. And we expanded our partner portfolio into emerging growth areas such as health and fitness, Web3 and social video. One Thing At A Time - the new album. [53] With EMI's absorption into Universal Music complete, its British operations consist of five label units: Island, Polydor, Decca, Virgin EMI and Capitol. [128], On March 8, 2022, UMG suspended all its operations in Russia, following the country's invasion of the Ukraine. Universal, of course, recently laid down the hammer on this narrative by buying Bob Dylans song catalog for as much as $400 million. Kent Ray Taylor is an American businessman and entrepreneur with a net worth of $2. Although UMG believes that such forward-looking statements are based on reasonable assumptions, they are not guarantees of future performance. Inside Universal, Sony, and Warner's Arms Race For Your Attention Average Universal Music Group Salary | PayScale [106], The company and Lego Group announced a music product partnership on April 26, 2020. Should Marilyn Manson and R. Kelly Be Banned? The Beatles catalogue was transferred to UMG's newly formed Calderstone Productions, while Williams' catalogue was transferred to Island Records. [16][17] The Decca Record Co. Ltd. of England spun American Decca off in 1939. "[143], Following the publication of the New York Times story, Questlove of The Roots confirmed that the master tapes for two of the band's albums, including unused material and multi-track recordings, were lost in the fire. Bruce Resnikoff is President/CEO at Universal Music Enterprises. Ad-supported streaming was particularly strong, due to the ongoing improvement in ad-based monetization and new and enhanced deals in social media. Records, John Coltrane, Muddy Waters, Ahmad Jamal, Nashboro Records, and Chess Records masters survived the fire and were still in Universal's archive. Join the Universal Music Group team See Our Latest Jobs 3.0 Former Employee Good experience but too big of a company Feb 23, 2023 - Senior Director, Marketing in Los Angeles, CA Recommend CEO Approval Business Outlook Pros Benefits Opportunity for various experience & connections Cons Physical revenue showed another quarter of strong growth, increasing by 11.1% year-over-year, or 10.5% in constant currency, mainly as a result of increased vinyl demand driven by releases from Taylor Swift, ABBA and The Beatles, as well as growth in direct-to-consumer sales. ; Asturianu; ; ; () ; Catal; Cebuano; etina Show us what you've . Lucian Grainge will become CEO, replacing Doug Morris who will remain the company's chairman. Universal Music Group shares surge in 110m bonus for Lucian Grainge Therefore, Spotifys current valuation implies that the record industrys streaming revenues will near enough triple in the future.. ", "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! derivative financial instruments, net (assets and liabilities) where the underlying instruments are Financial Net Debt items, as well as cash deposits securing borrowings included in the Consolidated Statement of Financial Position under financial assets; the value of borrowings at amortized cost as reported in the Consolidated Statement of Financial Position. [77][78][79], In July 2017, "Despacito" by Luis Fonsi, Daddy Yankee and featuring Justin Bieber, became the most streamed track of all time. listen now. Recorded Music EBITDA in 2021 was 1,614 million, up 18.7% year-over-year, or 20.4% in constant currency, driven by the growth in revenues. [116], Universal Music Group co-developed with Google[117][118] Vevo, a site designed for music videos inspired by Hulu.com, which similarly allows free ad-supported streaming of videos and other music content. [157] Megaupload dismissed its case against UMG in January 2012. Subscribe. A final decision spoiler: its going to be a big yes is due by the end of this month. Universal Music Group owner says label worth $22B - New York Post Universal Music Group, the world leader in music-based entertainment, leverages proprietary access and insights to develop innovative integrated brand opportunities globally with the potential to reach billions of engaged fans across digital media, events, name and likeness, sync & more. Brandi Carlile Bio, Net Worth, Age, Married, Height. That acquisition gave UMG a 30 billion ($36 billion) enterprise value as recently as January. The company went public on September 21, 2021, at a valuation of 46 billion. Compounding this trend is the expansion of Spotify and others into territories where local independent labels, like YouTube giant T-Series in India, have a bigger local presence than one or more of the majors. He writes a regular column for Rolling Stone. [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. 19, 2021. [26], In May 2004, Universal Music Group was cast under separate management from Universal Studios, when French media conglomerate Vivendi sold 80% of the latter to General Electric, who subsequently merged it with NBC to form NBC Universal. The Guardian pointed out that Grainges bonus comes from Universal Musics 2021 IPO as well as Tencent buying a 10% stake in the company. [35] Morris became the next chairman of Sony Music Entertainment on July 1, 2011. SIGN UP TO THE NEWSLETTER BELOW, USING YOUR SOCIAL ACCOUNT OR EMAIL. Universal Music Group N.V. to Announce Financial Results for the Fourth Quarter and Full Year Ended December 31, 2022 HILVERSUM, The Netherlands, Feb. 2, 2023 /PRNewswire/ -- Universal Music Group N.V. (EURONEXT: UMG) will release its financial results for the fourth quarter and full year 2022 on March 2, 2023 after that day's close of the Euronext market. [87] Sony and Warner signed similar contracts with Facebook the following year. Arnaud de Puyfontaine, CEO, Vivendi The MBW Review offers our take on some of the music biz's biggest recent goings-on. announced they would investigate the effects the fire may have had on the band's archival materials, while Hole, Steely Dan, Rosanne Cash and Geoff Downes made statements on their possible losses from the fire. Malinda YoutubeToday, Malinda estimates her recovery at about 75 In 2021, Recorded Music revenues were 6,822 million, up 14.3% compared to 2020, or 16.9% in constant currency. Universal Music: how much is the world's biggest label worth? Thats approximately a 29-times multiple on UMGs EBITDA profit in 2020 ($1.7 billion), and 23-times the EBITDA that Morgan Stanley estimates that Universal will post in 2021. Ken Hao Net WorthAs of October 2022, His net worth, on the other hand [152] Megaupload requested an apology from UMG, and filed a lawsuit against the company in the United States District Court for the Northern District of California, on December 12, 2011. "[141][142] In a statement issued on June 11, 2019, UMG said The New York Times article contained "numerous inaccuracies, misleading statements, contradictions and fundamental misunderstandings of the scope of the incident and affected assets. [132], In May 2006, an investigation led by then New York Attorney General, Eliot Spitzer, concluded with a determination that Universal Music Group bribed radio stations to play songs from Ashlee Simpson, Brian McKnight, Big Tymers, Nick Lachey, Lindsay Lohan and other performers under Universal labels. The deal collapsed in July 2021 due to regulatory concerns, and it was announced that Ackman's Pershing Square Holdings would complete the purchase instead.[111]. UMG considers EBITDA and EBITDA margin, non-IFRS measures, to be relevant measures to assess the performance of its operating segments as reported in the segment data. [47] In compliance the conditions of the European Commission after purchase of EMI, Universal Music Group sold the Mute catalogue to the German-based BMG Rights Management on December 22, 2012. In addition, it should be noted that other companies may have definitions and calculations for these non-IFRS measures that differ from those used by UMG, thereby affecting comparability. Universal Music Group may also be known as or be related to Decca Records (USA business) (1934-1971) MCA Records (1971-1989) MCA Music Entertainment Group (1989-1996), UNIVERSAL MUSIC . This came two months after the separation of Warner Music Group from Time Warner. At Universal Music Group (EURONEXT: UMG), we exist to shape culture through the power of artistry. Unaudited Consolidated Statement of Profit and Loss, Unaudited Consolidated Statement of Cash Flows, Non-IFRS Alternative Performance Indicators and Reconciliations, Reconciliation of Operating Profit to EBITDA, Reconciliation of EBITDA to Adjusted EBITDA, Reconciliation of net profit attributable to equity holders of the parent to Adjusted net profit, Reconciliation of net cash provided by/(used for) operating activities to Free Cash Flow. Most on Wall Street had pegged the value of. Monte Lipman - Founder & Chi.. - Universal Music Group | ZoomInfo If we assume for sake of argument that Spotify is able to grow without increasing its costs, it would have to generate $5.6 billion in gross margin to deliver those $3.6 billion in profits. Universal Music Spain is based in Madrid, Spain. Universal Music Group In February 2006, Vivendi (which own UMG since 2000) purchased the remaining 20 percent of UMG from Matsushita Electric. [89] With the addition of Japan, UMG distributes releases from Disney Music Group globally. Grainge earns an annual salary of over $10 million as the chairman and Chief executive officer of Universal Music Group Subscribe. Royalty advance payments, net of recoupments declined 38.1% to 364 million in 2021 from 588 million in 2020, due to the timing of major artist renewals. Vivendi said Wednesday that Universal Music Group will get a new chief executive this year. The company previously said that UMG . [100] In February 2019, UMG fully acquired music distributor INgrooves. "The vault housed tape masters for Decca, the pop, jazz and classical powerhouse; it housed master tapes for the storied blues label Chess; it housed masters for Impulse!, the groundbreaking jazz label. Universal Music Group - Wikipedia [145][146], A representative for Eminem confirmed that the rapper's master recordings were digitized months before the fire, but could not confirm whether the physical master reels of his recordings were affected. Top sellers for the year included new releases from Olivia Rodrigo, BTS, Justin Bieber, Morgan Wallen, ABBA and Taylor Swift as well as continued sales of The Weeknd and Billie Eilish. [4][5] The biggest music company in the world,[6] it is one of the "Big Three" record labels, along with Sony Music and Warner Music Group. He formerly served as COO of Columbia Records. Universal Music Latin Entertainment is headquartered in Miami, Florida. [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. [11][12], In 2019, Fast Company named Universal Music Group the most innovative music company and listed UMG among the Top 50 most innovative companies in the world[13] and "amid the music industry's digital transformation, Universal is redefining what a modern label should look like. UMG chairman & CEO Lucian Grainge is based at the company's Santa Monica offices. Adjusted Net Profit/Adjusted Net Profit per share. In 2019, the company is at a valuation of $50 billion. The financial information included in this press release is unaudited. (Paris-based Vivendi is currently sitting at around a 28bn market cap on the stock exchange in Europe.) Music Publishing EBITDA of 307 million was up 14.1% year-over-year, or 16.3% in constant currency. Tencent acquired ten percent of Universal Music Group in March 2020 for 3 billion[7][8][9] and acquired an additional ten percent stake in January 2021. The stars boost music investments and global expansion. [141] In space rented from NBCUniversal, according to an official document marked "Confidential", the fire destroyed at least 118,230 "assets" (master recordings), or about 500,000 song titles, owned by UMG. . Amazon MusicShow Me What You've Got Amazon. [80][81], In August 2017, UMG and Grace/Beyond agreed to develop three new music-based television series, 27, Melody Island and Mixtape. Editors picks The initiative is meant to create change for representation of women and underrepresented racial and ethnic groups in the media industry. Universal Music Group's CEO Score Ranks 2nd. BARCELONA/LONDON (Reuters) - Vivendi's Universal Music Group (UMG) could be worth more than $40 billion, Chief Executive Arnaud de Puyfontaine said on Friday, helping to buoy shares in the. Subscribe. Read More Universal Music Group N.V. Corporate Headquarters - Hilversum, Netherlands "[66][67], On April 1, 2014, Universal Music announced the disbandment of Island Def Jam Music, one of four operational umbrella groups within Universal Music. 59 Employees at Universal Music Group rate Lucian Grainge a 75 out of 100, which ranks them 2nd below Salem Media Group's CEO, David Santrella. Excluding these items, Adjusted EBITDA for the quarter was 503 million, up 9.8% year-over-year, or 6.8% in constant currency, driven by revenue growth. Show Me What Youve Got GIFs. The CEO of Universal Music earned more in 2021 than all the sales and With a few notable exceptions Taylor Swift and BTS, for example think of the superstar albums we havent seen in the pandemic: Adele, Kendrick Lamar, Bruno Mars, Ed Sheeran, Cardi B, Drake, Kanye, Travis Scott, Rihanna, and many more, all MIA. On 1 January 2011 he became CEO of Universal Music Group, and then chairman on 9 March 2011, succeeding Doug Morris. Excluding these items, Adjusted EBITDA for the year was 1,788 million, up 19.4% compared to 2020, or 20.9% in constant currency, driven by revenue growth. The Consolidated financial statements have been prepared in accordance with IFRS issued by the International Accounting Standards Board as endorsed by the EU and comply with the statutory provisions of Part 9, Book 2 of the Dutch Civil Code. 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. The Company will host a conference call to discuss these results on Thursday, March 3, 2021 at6:15PM CEST. Universal Music Group Company Stats Industry Business Services & Supplies Founded 1995 Headquarters Hilversum Country Netherlands Chief Executive Officer Lucian C. Grainge Employees 9,505. Subscribe. 27 would focus on musicians at the age of 27, an age at which several iconic musicians died. For more information on how Universal Music Group for Brands can create authentic connections for your brand, please contact us here. Is Universal Music Worth $29 Billion? Brandi Carlile Net Worth 2021Wynonna Judd will continue the Judds Revenue for the fourth quarter of 2021 was 2,520 million, an increase of 19.0% year-over-year, or 16.0% in constant currency. Note: % YoY indicates % change year-over-year; % const. Tencent's ultimate largest controlling corporate shareholder, Naspers, is headquartered in Cape Town, South Africa. The more miserly in perpetuity rights deals the majors signed in the past are (thankfully) becoming a relic of a bygone age, a transition which will likely impact UMGs margins in the future. Universal Music Group | Investor Relations "[155] The video was subsequently returned to YouTube, with the reasons for the UMG takedown remaining unclear. Lucian Grainge - Wikipedia The current estimated net worth of Solarwinds Corp's Director, Kenneth Hao, is estimated to be about $1. The descriptions of these alternative performance indicators and reconciliations of non-IFRS to IFRS measures are included in the Appendix to this press release. Universal Music Group CEO Lucian Grainge on Wednesday lamented the increasing use of short, low-quality music clips on streaming music platforms, saying they undermine the experience of. Subscribe. Whether its services-type contracts or a short-term licensing deals, these agreements can see full control of copyrights return to artists within a handful of years, while more than 50% of royalties are paid to them in the meantime. Recorded Music revenues for the fourth quarter of 2021 were 1,975 million, up 15.2% compared to the fourth quarter of 2020, or 12.3% in constant currency. Island Records Popular. Universal Music Group CEO Lucian Grainge is reportedly set to earn north of $200 million in 2021 - more than the total songwriting income (attributable to streaming and sales) in the UK in. Analysts suggest that the world's biggest music rights-holder could be worth three times its current public valuation. Downloads and other digital revenue were flat, but declined 3.3% in constant currency, as download sales continue their industry-wide decline.