Salary $49k $96k Associate of Science (AS), Recording Arts Avg. Whereas his annual yearly salary and his monthly salary are not publicly known. [34], Doug Morris stepped down from his position as CEO on January 1, 2011. Please only use it for a guidance and Universal Music Publishing Group's actual income may vary a lot from the dollar amount shown above. In January 2011, UMG announced it was donating 200,000 master recordings from the 1920s to 1940s to the Library of Congress for preservation. The Five Most Powerful People in the Music Industry Don - Rolling Stone Are Universal Music Group internships paid? [105], In February 2020, Vivendi announced it was planning to go public in an IPO within three years. With this new audio standard, UMG allows its artists to base their song approval process on how the final mix sounds in a MercedesBenz and introduced the Approved in a MercedesBenz label as a standard. Universal Music Group: revenue 2021 | Statista Universal Music Group - Wikipedia Lucian Grainge Net Worth, Bio, Age. Wife, Salary, Son, Samantha, UMG MySpace Music Completes Acquisition Of iMeem", "Recordings by Elton John, Nirvana and Thousands More Lost in Fire", "Universal Music Disputes Severity of 2008 Fire Cited in New York Times Article", "Hole Say They Were Never Told About Lost Recordings in Warehouse Fire", "Musicians Mourn the Fiery Destruction of Their Recordings: 'I Think They Are Gone Forever', "Nirvana's Krist Novoselic believes Nevermind masters lost in Universal fire", "Eminem Master Tapes Were Digitally Backed Up Just Months Before Universal Fire: Report", "Universal Music Group Archivist: Vault Fire Damage 'Surprisingly Overstated,' But Any Loss Is 'Painful for Us', "Artists Sue Universal Music Group Over Losses in 2008 Fire", "A Universal Music Fire Case Could Break New Legal Ground", RIAA Label Artists & A-List Stars Endorse Megaupload In New Song, Universal Censors Megaupload Song, Gets Branded a "Rogue Label", Megaupload threatens to sue Universal over YouTube video, Megaupload to Sue Universal, Joins Fight Against SOPA, UMG claims "right to block or remove" YouTube videos it doesn't own, File-Sharing Company Sues Record Label, for a Change, UMG, MegaUpload Case Gets Even Stranger; Will.i.am Says He Didn't Authorize A Takedown, "Megaupload Drops Lawsuit Against Universal Music Over Viral Video (Exclusive)", "Music Industry Opposes Copyright Termination; What is it? Universal's revenue jumped from 6bn in 2018 to 7.4bn in 2020. [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. "[68] Island Records and Def Jam now operate as autonomous record labels. Music Publishing EBITDA of 307 million was up 14.1% year-over-year, or 16.3% in constant currency. UMG's first major film production was Amy, which won an Oscar for Best Documentary,[69] while taking part in Kurt Cobain: Montage of Heck and The Beatles: Eight Days a Week documentaries. 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. [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. CEO Lucian Grainge Stock Symbol AMS: UMG The CEO of Universal Music earned more in 2021 than all the sales and [96], On November 19, 2018, singer-songwriter Taylor Swift signed a new multi-album deal with UMG, in the United States, her future releases will be promoted under the Republic Records imprint. Island Records Q1 2022 Results: May 3, 2022 Arnaud de Puyfontaine, CEO, Vivendi The MBW Review offers our take on some of the music biz's biggest recent goings-on. Mixtape had twelve episodes, with each episode connected to a song. Adele's net worth is a lot more than 19 + 21 + 25 + 30! Daniel Kerven, JP Morgan Cazenove's Head of European Media and Internet Equity Research, hit headlines in February 2019 by suggesting that Universal Music Group was worth over 44 billion. First, the record label plans to spinoff from parent company Vivendi and go public at the end of 2021. Net cash provided by/(used for) operating activities Adjustments EBITDA and EBITDA margin were impacted by certain non-cash share-based compensation and one time direct-listing related expenses during the fourth quarter of 2021, which amounted to 65 million. 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. In January 2016, UMG hired David Blackman from Laurence Mark Production where he was president of production as head of film and television development and production, and theater producer Scott Landis as special advisor on theatrical development and production. Note: % YoY indicates % change year-over-year; % const. Bachelor of Arts (BA), Communication Avg. Nearly all of these mastersin some cases, the complete discographies of entire record labelswere wiped out in the fire. Is Universal Music Worth $29 Billion? Therefore, Spotifys current valuation implies that the record industrys streaming revenues will near enough triple in the future.. In June 2018, Universal Music Japan announced an exclusive license agreement with Disney Music Group. [119], On May 24, 2018, Vevo announced that it would no longer continue distributing videos to Vevo.com, instead opting to primarily focus on YouTube syndication.[120]. Editors picks Metro Boomin. [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. [1] This press release includes certain alternative performance indicators which are not defined in the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board as endorsed by the EU. 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. [73], In May 2016, UMG acquired Famehouse, a digital marketing agency. Some think Tencent got an absolute bargain. [113], On May 31, 2022, Universal Music Group announced Baa1/BBB long-term credit ratings from Moody's and S&P. The net leverage ratio, defined as Net debt over EBITDA at year-end 2021 was 1.2x, compared to 1.3x at year-end 2020. Adjusted EBITDA margin expanded 0.9pp year-over-year to 21.0% due to operating leverage, which helped to lower selling, general and administrative expenses as a share of revenue. [144] Similarly, Nirvana bassist Krist Novoselic said he believed the masters for the band's 1991 album Nevermind were "gone forever" as a result of the fire. Aerosmith Hands Entire Catalog to Universal Music Group, considering a proposal to spin out 60% of the worlds biggest music company. Vivendi's music unit UMG worth more than $40 billion, CEO says However, it also spent 2.5bn on catalogue acquisitions and artist advances during the year, including re-signing stars such as. [100] In February 2019, UMG fully acquired music distributor INgrooves. We own and operate a broad array of businesses engaged in recorded music, music publishing, merchandising, and audiovisual content in more than 60 countries. . [124], Universal Music Group Global (formerly known as Universal Music Group International (UMGI)) operates offices in London.[125]. Universal Music Group Company Profile | Management and - Datanyze Universal Music Latin Entertainment is headquartered in Miami, Florida. Universal Music Publishing Group net worth Mar, 2023 - People Ai In this execs words: If Spotify investors expect a standard 7% yield from their investment [as per that market cap], they would also expect the company to be generating $3.6 billion in annual profits. We have sent a confirmation email to {USEREMAIL}. 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. Disclamer: Universal Music Publishing Group net worth displayed here are calculated based on a combination social factors. Richard Rosenblatt Net Worth. 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! The same day, UMG announced launch of its new affiliates in Morocco and Israel. 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. 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. UMG operates in more than 60 territories around the world including Australia, Central America, Brazil, France, India, China, Hong Kong, Taiwan, Sub-Saharan Africa, Central and Eastern Europe, New Zealand, Russia, Ukraine, South Korea, Singapore, Malaysia, Indonesia, the Philippines and more. Such forward-looking statements are made as of the date of this press release. Who Owns Universal Music Group? Here's a Quick Overview Universal Music Group Location 2220 Colorado Ave, Santa Monica, California, 90404, United States Description Discover more about Universal Music Group Monte Lipman Work Experience and Education Work Experience Founder & Chairman Republic Records 2009-2020 Judge International Songwriting Competition Co-Founder & Chief Executive Officer [83], In November 2017, USC Annenberg announced UMG's partnership in the "Annenberg Inclusion Initiative", becoming the first music company to do so. Daniel Kerven, JP Morgan Cazenoves Head of European Media and Internet Equity Research, hit headlines in February 2019 by suggesting that Universal Music Group was worth over 44 billion ($50 billion). A Are Universal Music Group internships paid? 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. 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. Recorded Music EBITDA margin improved by 0.9pp to 23.7% from 22.8% in 2020 due to operating leverage. [124] Company's legal headquarters are in the Netherlands. [39] IMPALA opposed the merger. See Bruce Resnikoff's compensation, career history, education, & memberships. Universal Music Group | LinkedIn UMG CEO Lucian Grainge to Earn Over $200 MM in 2021 Following IPO [151] The music video was also uploaded to YouTube, but was removed following a takedown request by UMG. [87] Sony and Warner signed similar contracts with Facebook the following year. All rights reserved. [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). Does Universal Studios own Universal Music Group? The 2021 annual report has not yet been published and an auditors opinion has not yet been issued. Merchandising and Other EBITDA margin declined by 2.8pp year-over-year to 4.4% of revenues due to higher artist costs and a shift in revenue mix towards lower-margin touring-related revenue. Show us what you've . Subscribe me to the Universal Music newsletter, Revenue of 8,504 million, representing growth of 17.0% year-over-year in constant currency, driven by strong growth across all segments, Recorded Music subscription and streaming revenue grew 19.8% year-over-year in constant currency, Adjusted EBITDA increased 20.9% year-over-year in constant currency driven by the revenue growth and Adjusted EBITDA margin improved 0.9pp year-over-year to 21.0%, Net cash provided by operating activities before income tax paid of 1,395 million compared to 1,133 million in 2020, Free cash flow of 638 million, compared to negative 158 million in 2020, Subject to shareholder approval, final dividend proposal of 363 million, or 0.20 per share, which would bring total dividend for 2021 to 725 million, or 0.40 per share, Revenue of 2,520 million, representing growth of 16.0% year-over-year in constant currency, driven by strong growth across all segments, Recorded Music subscription and streaming revenue growth of 16.1% year-over-year in constant currency, Adjusted EBITDA increased 8% year-over-year in constant currency driven by revenue growth; Growth rate impacted by a 28 million exceptional recovery of an advance provision in the prior year period related to a label acquisition, Successful separation from Vivendi by distribution of 60% of UMGs shares to Vivendi shareholders and listing of UMG shares on the Euronext Amsterdam, Global artist success across platforms, including 8 of the Top 10 IFPI Global Artists of the Year and 2021s Breakthrough Artist Olivia Rodrigo, Selective acquisitions of iconic catalogues including Sting, Neil Diamond and others, Expanding relationships with top platform partners and diversifying revenue sources into areas like social media (Tik Tok, Snap, Twitch), health & fitness (19 partnerships), original film & TV production, Frontline of developments in Web3 and metaverse space with artist-centric approach. Such forward-looking statements may be identified by the use of words such as profit forecast, expect, estimate, project, anticipate, should, intend, plan, probability, risk, target, goal, objective, will, endeavour, optimistic, prospects and similar expressions or variations on such expressions. "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. 99%. Show Me What You Got Kindle Edition. [43] However, the European Commission approved the deal only under the condition the merged company divest one third of its total operations to other companies with a proven track record in the music industry. Yet the entire global record business earned $11.4 billion from streaming in 2019. [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. Universal Music Group History: Founding, Timeline, and Milestones 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. Artist/songwriter agreements with music publishers today expire with relative regularity. Note: % YoY indicates % change year-over-year; % const. "[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. Subscribe. "Theres only one word for it obscene" @crispinhunt https://t.co/wayqIVhAAA Share this post if you agree (1/2) pic.twitter.com/3i7W6ZOs9P. Adjusted net profit may be subject to limitations as an analytical tool for investors, as it excludes certain items and therefore does not reflect the expense associated with such items, which may be significant and have a significant effect on UMGs net profit. Top sellers in the prior year included The Weeknd, Billie Eilish, Post Malone, Lil Baby, Pop Smoke and BTS. [134] After years of litigation, the suit settled in 2018, prior to the court holding a trial on whether UMG had a subjective belief that the video was infringing and not fair to use before sending its request to YouTube. What is Universal Music Group worth? [58] The exclusive deal also saw UMG granted unlimited access to all rights pertaining to Disney's 85-year back catalog of soundtracks and albums. [55][56] Edel AG acquired the MPS catalogue from Universal in January 2014. David Massey and Bartels, who worked respectively at Island and Def Jam Records, were named to the new record labels independently. 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. Tencent's ultimate largest controlling corporate shareholder, Naspers, is headquartered in Cape Town, South Africa. Subscribe. Universal Music Group Nashville is headquartered in Nashville, Tennessee.[123]. Universal Music Group's Universal Music Polska is located in Warsaw. [126], Universal Music Group's Universal Music Canada is located in Toronto.[127]. Taylor Swift Generated $230 Million In Revenue For Universal Music . Universal Music Group NV, the world's largest record label, said quarterly revenue from music streaming surpassed 1 billion euros ($1.06 billion) for the first time in the fourth quarter, a 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. 3. After the IPO, the ownership of Universal Music Group has dramatically. Hilversum, The Netherlands, March 3, 2022 Universal Music Group N.V. (UMG or the Company) today announced its financial results for the fourth quarter and full year ended December 31, 2021. Analysts suggest that the world's biggest music rights-holder could be worth three times its current public valuation. [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. Free Cash Flow is not a measure of performance calculated in accordance with IFRS and therefore it should not be considered in isolation of, or as a substitute for cash flow provided by operating activities as a measure of liquidity. 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. Taylor Swift. [We] have suggested a blue sky valuation of 100 billion, wrote Kerven of UMG. Two years on, streaming revenues have continued to mushroom, even through a pandemic, and the valuations slapped on Universal have grown in tandem. Bruce Resnikoff, Universal Music Enterprises: Profile and Biography 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. Such trends mean more copyrights leaving the grasp of major music companies, and subsequently being acquired by well-funded, catalog-snaffling upstarts like Hipgnosis Songs Fund and Primary Wave. Send us a tip using our anonymous form. [19], In November 1990, Japanese multinational conglomerate Matsushita Electric agreed to acquire MCA for $6.59billion. [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. 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. Erika Begun investorrelations@umusic.com, Upcoming Calendar Universal Music Group 2. Universal Music Group | Company Overview & News [60] In May 2013, Japanese company SoftBank offered $8.5billion to Vivendi for the acquisition of UMG, but Vivendi rejected it. [54] In the Greek market, as part of its divesture plans, Universal Music retained Minos EMI and sold Universal Music Greece to Greek investors who renamed it Cobalt Music. For more information on Universal Music Group N.V. visitwww.universalmusic.com, Media 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. In 2021, Universal Music Group generated 8.5 billion euros in revenue, up from 7.43 billion in the previous year. Interscope-Geffen-A&M and Universal Music Enterprises (UME), the company's catalog division, are headquartered in Santa Monica. 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. 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. In addition, veteran songwriters can apply for the termination of publishing copyrights in the US 56 years after their songs were released (see: Paul McCartneys battle with Sony Music Publishing a few years back). The company represents artists such as Justin Bieber, Lady Gaga, and Kanye West, and has partnered with retailers including Barneys, Bloomingdale's and Selfridges. Lucian Grainge will become CEO, replacing Doug Morris who will remain the company's chairman. Universal Music Group CEO and chairman Sir Lucian Grainge has a good shot at topping any music-industry power list in 2019. Net debt, defined as total debt minus cash and equivalents, at the end of 2021 was 2,010 million compared to 1,868 million at the end of 2020. Constant currency change is calculated by taking current year results and comparing against prior year results restated at current year rates. Universal, which is the largest. 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. One Thing At A Time - the new album. Pay ranges for employees at Universal Music Group by degree. The Beatles catalogue was transferred to UMG's newly formed Calderstone Productions, while Williams' catalogue was transferred to Island Records. Universal Music Group operates a secondary office in Woodland Hills that includes finance, royalty, and operations functions.[122]. Tencent emerged as UMG's biggest corporate shareholder with 20% of shares. Ken Hao Net WorthAs of October 2022, His net worth, on the other hand Brandi Carlile Bio, Net Worth, Age, Married, Height. [74] That same year, Paul McCartney and the Bee Gees both signed to UMG's Capitol Records, including their catalog releases. Music Publishing EBITDA margin improved by 0.3pp year-over-year to 23.0%, as a result of operating leverage. By. Universal Music Group N.V. Reports Financial Results for the - UMG This, he said, was due to UMGs undermonetized, must-have, global content that is strategic to the tech giants and cant be replicated. Kerven was notably more bullish on UMG than other analysts at the time, including Morgan Stanley, who estimated UMG might be worth somewhere between $29 billion and $42 billion.