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. But with annual costs of around $2 billion, Spotify is currently operating at close to break-even. "[14] UMG has signed licensing agreements with more than 400 platforms worldwide. As far as I know the multiplayer is just local, but you need only 2 controllers to get this one. The 500 Greatest Songs of All Time Vivendi said Wednesday that Universal Music Group will get a new chief executive this year. [109], In July 2020, UMG signed a new multi-year licensing agreement with Spotify to provide value for artists and immense experiences for music fans. [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. 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. 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[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. Universal Music Group | Company Overview & News Please only use it for a guidance and Universal Music Group's actual income may vary a lot from the dollar amount shown above. 27 would focus on musicians at the age of 27, an age at which several iconic musicians died. [112], In February 2022, Universal Music Group announced a partnership with Curio, an NFT platform, to create NFT collections for its record labels and artists. The Beatles catalogue was transferred to UMG's newly formed Calderstone Productions, while Williams' catalogue was transferred to Island Records. Subscribe. [73], In May 2016, UMG acquired Famehouse, a digital marketing agency. "[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. Notably, in the fourth quarter of 2020, EBITDA, Adjusted EBITDA, EBITDA margin and Adjusted EBITDA margin benefited from a 28 million exceptional recovery of an advance provision related to a label acquisition, which was the primary driver of the year-over-year decline in margin. [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. Lucian Grainge Salary. Universal Music Group boss Lucian Grainge is set to earn more in 2021 than all songwriters did combined from streams & sales of their music in the UK in 2019. UMG disclaims any intention or obligation to provide, update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise. [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. The music icon & global superstar drops new single "Kant Nobody" feat. Keep reading to discover what it's like to work with the best in the business. Operating profit includes certain non-cash items that are adjusted to get to the Net cash provided by operating activities as follows: In this press release, UMG presents certain financial measures when discussing UMGs performance that are not measures of financial performance or liquidity under IFRS (non-IFRS). [91][92], In Nielsen's 2018 US Music Mid-Year report, UMG made history with eight of the Top 10 artists, including all of the top five, as well as all of the top eight artists ranked by on-demand audio streams. . And we expanded our partner portfolio into emerging growth areas such as health and fitness, Web3 and social video. [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. Going forward, we see the industry continuing to grow and with our unique experience, our deep understanding of the business and the vast artist relationships and global creative networks we expect to further strengthen our position as the industry leader as we continue to break new artists and build on our world-class catalogue., We are generating robust Free cash flow even as we continue to opportunistically and selectively invest in artists and catalogues that will be additive to the long-term health of our business, said Boyd Muir, EVP, CFO and President of Operations for UMG. [84][85], In December 2017, Universal Music Group acquired Stiff and ZTT labels, along with Perfect Songs Publishing, from Trevor Horn's SPZ Group;[86] BMG Rights Management, through Union Square Music subsidiary, retained its back catalogues. This dividend proposal is subject to approval by the Annual General Meeting of Shareholders to be held on Thursday, 12 May 2022. Our success in all these efforts showed in our financial performance revenues increased by 17% on a constant currency basis, Adjusted EBITDA margin expanded and Free cash flow improved significantly. Downloads and other digital revenue were flat, but declined 3.3% in constant currency, as download sales continue their industry-wide decline. 19, 2021. Were an independent distributor working with unsigned artists to put their music online for free. To calculate EBITDA, the accounting impact of the following items is excluded from the income from Operating Profit: Adjusted EBITDA and Adjusted EBITDA margin. This press release is published by Universal Music Group N.V. and contains inside information within the meaning of article 7 (1) of Regulation (EU) No 596/2014 (Market Abuse Regulation). [114], In October 2022, Mercedes-Benz launched a new in-car audio collaboration with Apple Music and Universal Music Group. [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. [40] In March 2012, the European Union opened an investigation into the acquisition[41] The EU asked rivals and consumer groups whether the deal would result in higher prices and shut out competitors. Universal Music GmbH, the German subsidiary, is headquartered in Berlin. Apple HomePod 2 Review: Im Confused (Video), Android 13 brings spatial audio to Google Pixel phones, with head tracking on Pixel Buds Pro, Sonos and IKEA announce a new SYMFONISK floor lamp speaker, Serato Stems: clean instrument isolation in your DJ mix, Everything you need to know as an artist on SoundCloud how to monetize your music and get unlimited uploads for free, PUSH.fm: Promote your music with free digital marketing tools, What is Qobuz and how to upload your music free, Where is iTunes in 2022? 319 Million. Net cash provided by operating activities before income tax paid improved to 1,395 million compared to 1,133 million in 2020, an increase of 23.1%, mainly as a result of the growth in EBITDA and lower royalty advance payments, net of recoupments in 2021 compared to 2020. The accounting impact of the following items is excluded from Net profit attributable to equity holders of the parent: UMG considers financial net debt, a non-IFRS measure, to be a relevant indicator of the groups liquidity and capital resources. Dr. Dre Nearing Deal to Sell Music Rights. UMG management uses this indicator for reporting, management and planning purposes. [106], The company and Lego Group announced a music product partnership on April 26, 2020. Could Universal Music Group really be worth more than $40bn? Required fields are marked *. The family of French businessman Vincent Bollor is revealed as the majority shareholder with 28% of UMG shares, through its holding company Bollor (18%) and its subsidiary Vivendi (10%), headed by his son Yannick Bollor. Vivendi distributed 60% of its UMG shares and retaining 10%. Adele's net worth is a lot more than 19 + 21 + 25 + 30! 4150 International Plz Fort Worth, TX 76109 8442 McDaniel Rd Fort Worth, TX 76126 PO Box 174 Strawn, TX 76475. Net profit attributable to equity holders of the parent for 2021 amounted to 886 million compared to 1,366 million in 2020, resulting in EPS of 0.49 in 2021, compared to 0.75 in 2020. In accordance with UMGs dividend policy to pay a dividend of 50% of Net profit (subject to agreed non-cash items and applicable law), UMG has proposed to pay a final dividend of 363 million, or 0.20 per share for the year ended December 31, 2021. [129], In January 2022, the company's shareholding is:[3], In 2000, music companies including UMG entered into consent agreements with the Federal Trade Commission,[130] with no admission of liability,[131] whereby they agreed to discontinue the use of Minimum Advertised Price programs under which subsidized cooperative advertising was provided to retailers that agreed to adhere to minimum advertised pricing. Physical revenue grew 18.6% year-over-year, or 21.2% in constant currency, driven by strong vinyl demand as well as growth in direct-to-consumer sales. Universal Music Group N.V. Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2021. [9] Salary $49k $96k Associate of Science (AS), Recording Arts Avg. Lucian Grainge- Net worth, Salary. Universal Music Publishing is also headquartered in the city. It enables UMG to compare the operating performance of operating segments regardless of whether their performance is driven by the operating segments organic growth or by acquisitions. This non-cash share-based compensation amounted to 45 million. The company previously said that UMG . Def Jam, Island and Republic Records also maintain offices there. As a result of this deal DMG's labels and artists have access to UMG's roster of producers and songwriters on a worldwide basis. is in an oddly inert place right now. On 1 January 2011 he became CEO of Universal Music Group, and then chairman on 9 March 2011, succeeding Doug Morris. In addition to strong performance in streaming, we drove new areas of opportunity for our artists ranging from merchandise to brand management, sponsorship, ecommerce, and film & television. [42], On September 21, 2012, the sale of EMI to UMG was approved in the European Union and the United States by the European Commission and Federal Trade Commission respectively. A risky bet on streaming fueled Universal Music's resurgence - Los [60] In May 2013, Japanese company SoftBank offered $8.5billion to Vivendi for the acquisition of UMG, but Vivendi rejected it. The Guardian pointed out that Grainges bonus comes from Universal Musics 2021 IPO as well as Tencent buying a 10% stake in the company. UMG has offices in New York City where Island Records, Def Jam Recordings, Republic Records, Verve Label Group, and Spinefarm Records are headquartered. Furthermore, on December 19, 2017, UMG signed a multi-year licensing agreement with YouTube.[88]. 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. This came two months after the separation of Warner Music Group from Time Warner. 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. In its IPO, UMG hits 54 billion ($62.6 billion) valuation which is over a third bigger than initial valuation. Taylor Swift is one of the many hit artists signed to Universal Music's umbrella. © 2023 RouteNote Blog. License and other revenue improved 11.6% year-over-year, or 5.1% in constant currency, as a result of improvements in synchronization, non-recorded direct-to-consumer and live revenues. In June 2018, Universal Music Japan announced an exclusive license agreement with Disney Music Group. No wonder the worlds biggest music rights companies saw bottom-line profits soar in 2020; their spending presumably decreased. UMG considers the use of Adjusted net profit appropriate as UMG uses it as the basis for the Adjusted net profit per share (in EUR) diluted, both of which are non-IFRS measures. 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. [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). Copyright 2023 Penske Business Media, LLC. We are Universal Music Group, the world's leading music company. Investors and analysts interested in asking questions can pre-register for a dial-in line atinvestors.universalmusic.comunder the Financial Reports tab. Kent Ray Taylor Job - Dos.ibdrk.de [We] have suggested a blue sky valuation of 100 billion, wrote Kerven of UMG. [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 financial information included in this press release is unaudited. Who Owns Universal Music Group? Here's a Quick Overview [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. Adjusted net profit, which adjusts for the revaluation of investments amongst other items, amounted to 1,271 million in 2021, compared to 1,028 million in 2020, resulting in Adjusted EPS of 0.70 in 2021, compared to 0.57 in 2020. The biggest music business story of several years is waiting in the wings, and it could be even more climactic than anticipated. Kervens super-positive valuation of Universal was largely supported by his belief in the potential for billions of [music streaming] subscribers worldwide were currently at about 450 million as well as future price rises by streaming services like Spotify supported by innovation.. On May 3, 2019, UMG filed a motion to dismiss the case, stating the Notices of Termination were not valid because the songs were not grants of copyright but works for hire. No wonder Som Livre, Brazils biggest domestic label, is believed to be close to selling up for around $300 million. For more information on how Universal Music Group for Brands can create authentic connections for your brand, please contact us here. Adjusted Net Profit/Adjusted Net Profit per share. [44][45], Universal Music Group completed their acquisition of EMI on September 28, 2012. Net worth score. In July, The Rolling Stones signed a worldwide agreement with UMG covering the band's recorded music and audio-visual catalogues, archival support, global merchandising and brand management. [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. "Theres only one word for it obscene" @crispinhunt https://t.co/wayqIVhAAA Share this post if you agree (1/2) pic.twitter.com/3i7W6ZOs9P. A 29bn valuation would actually make Universal Music Group - led by CEO & Chairman Sir Lucian Grainge (pictured) - worth more than its owner, Vivendi. cash and cash equivalents, as reported in the Consolidated Statement of Financial Position, including (i) cash in banks and deposits, whether or not compensated, corresponding to cash, and (ii) money market funds; cash management financial assets, included in the Consolidated Statement of Financial Position under financial assets, relating to financial investments, which do not satisfy the criteria for classification as cash equivalents set forth in IAS7; and. Universal Music Group's CEO Score Ranks 2nd. Universal Music Group Valued at About $39B Ahead of Listing 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. Richard Rosenblatt Net Worth. UMG-signed artists claimed no less than eight of the top 10. (Paris-based Vivendi is currently sitting at around a 28bn market cap on the stock exchange in Europe.) Thank you for registering! 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. In addition to the promised ownership of her master recordings, UMG agreed to, in case it sells portions of its stake in Spotify, distribute proceeds among its artists and make them non-recoupable. A Are Universal Music Group internships paid? [124] Company's legal headquarters are in the Netherlands. If approved by shareholders, this would bring UMGs total dividend for 2021 to 725 million, or 0.40 per share. On that topic, one senior and fiscally focused industry insider passed me a set of rough numbers the other day that further adds weight to Universals potential of becoming a $100-billion-plus company in the months and years ahead. [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. Pay ranges for employees at Universal Music Group by degree. Metro Boomin. Show Me What You Got Kindle Edition. [105], In February 2020, Vivendi announced it was planning to go public in an IPO within three years. The company has seen a rise in its net worth which was at $22 billion in 2017 since Lucian took over leadership. Two years on, streaming revenues have continued to mushroom, even through a pandemic, and the valuations slapped on Universal have grown in tandem. [131] It was estimated that consumers were overcharged by $500 million and up to $5 per album. Cost of revenues as a percentage of revenues increased to 54.2% from 52.7% driven by higher product costs from a greater proportion of merchandising and physical sales, including higher vinyl sales, when compared to 2020. In January 2011, UMG announced it was donating 200,000 master recordings from the 1920s to 1940s to the Library of Congress for preservation. 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. Annual General Meeting of Shareholders: May 12, 2022. We exist to shape culture through the power of artistry. A $65 million bonus will push Universal Music Group CEO Lucian Granges 2021 income up to $201 million. Tencent's ultimate largest controlling corporate shareholder, Naspers, is headquartered in Cape Town, South Africa. What Is Universal Music Group Worth? - AudiobyRay UMG's 2020 revenue by operation: Recorded music grew 5.9% to 5.97 euros billion ($6.74 billion) from 2019's 5.63 billion euros ($6.33 billion) Music publishing grew 12.7% to nearly 1.19 billion. malinda youtube 5. In 2021, Universal Music Group generated 8.5 billion euros in revenue, up from 7.43 billion in the previous year. Universal Music: how much is the world's biggest label worth? [59], On April 2, 2013, the gospel music divisions of Motown Records and EMI merged to form a new label called Motown Gospel. 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. The estimated Net Worth of Kenneth Hao is at least $1. Grainge earns an annual salary of over $10 million as the chairman and Chief executive officer of Universal Music Group One Thing At A Time - the new album. Taylor, Darren Rodney (PDF, 154KB) Death in custody, natural causes. pre-order now. Analysts at JPMorgan Chase credit Taylor's 2022 album "Midnights" with generating some $230 million in revenue for Universal Music Group, a figure which accounts for almost 3% of the. Perhaps, though, this is the calm before the storm. Now thats music to Universals and its prospective investors ears. [37], In 2011, EMI agreed to sell its recorded music operations to Universal Music Group for 1.2billion ($1.9billion) and its music publishing operations to a Sony-led consortium for $2.2billion. Outside of the churn of big-money catalog acquisitions and enthusiasts wibbling on about the potential of Clubhouse and NFTs, the industry (like many of us?) Universal Music Group N.V. Reports Financial Results for the - UMG 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. Universal Music Group has officially gone public on the Euronext Amsterdam with a valuation north of $50 billion. Billboard's 2022 Power List Revealed - Billboard 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. ", "Universal Music Is Battling to Nullify the 35-Year Copyright Termination Right", https://en.wikipedia.org/w/index.php?title=Universal_Music_Group&oldid=1139387478, This page was last edited on 14 February 2023, at 21:54. 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. Get news from your favorite artists before everyone else. 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. [87] Sony and Warner signed similar contracts with Facebook the following year. Universal Music Group net worth and salary income estimation [147] UMG archivist Patrick Kraus assured that the Impulse! UMG's corporate headquarters are located in Hilversum, Netherlands and its operational headquarters are located in Santa Monica, California. [39] IMPALA opposed the merger. Show us what you've . Recorded Music EBITDA margin improved by 0.9pp to 23.7% from 22.8% in 2020 due to operating leverage. Who Owns Universal Music Group | Hearinnh This compares to 10 million in non-cash share-based compensation expense in the prior year. [126], Universal Music Group's Universal Music Canada is located in Toronto.[127]. The turnover of UMG in 2010 cost $5584 million. Artist/songwriter agreements with music publishers today expire with relative regularity. 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. Merchandising and Other EBITDA in 2021 of 16 million decreased by 23.8% compared to 2020, or 27.3% in constant currency, due to higher artist costs. Top sellers in the prior year included The Weeknd, Billie Eilish, Post Malone, Lil Baby, Pop Smoke and BTS.
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