universal music group ceo net worthuniversal music group ceo net worth

In 2019, the company is at a valuation of $50 billion. [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. Grainge earns an annual salary of over $10 million as the chairman and Chief executive officer of Universal Music Group Capitol Music Group is headquartered at the Capitol Records Building in Hollywood. Ivors Academy and others suggest people in the UK should write to their MP asking for them to support a Private Members Bill from Kevin Brennan MP, which asks for more protections for musicians against unfair payments. Music Publishing revenue amounted to 1,335 million in 2021, up 12.6% year-over-year, or 15.0% in constant currency. ", "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! 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. Universal Music Group N.V. Reports Financial Results for the - UMG . 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). Universal Music Group Valued at About $39B Ahead of Listing [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. [87] Sony and Warner signed similar contracts with Facebook the following year. [103], In August 2019, Tencent and Vivendi started negotiation to sell 10% Vivendi's stake of Universal Music to Tencent. The Company will host a conference call to discuss these results on Thursday, March 3, 2021 at6:15PM CEST. [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. This increase was driven by double-digit improvements across all segments, as discussed further below. Universal Music Spain is based in Madrid, Spain. 100% Approve of CEO. Whereas his annual yearly salary and his monthly salary are not publicly known. How to upload and sell your music free, What is Shazam and how to upload your music free, What is Deezer and how to upload your music free, What is Amazon Music and how to upload your music free, How to use TikTok: Make money from videos and upload music, Everything you need to know as an artist on Instagram how to upload to Stories and Reels, What is YouTube Music and how to upload your music free. 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). "[68] Island Records and Def Jam now operate as autonomous record labels. Universal's revenue jumped from 6bn in 2018 to 7.4bn in 2020. The descriptions of these alternative performance indicators and reconciliations of non-IFRS to IFRS measures are included in the Appendix to this press release. 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. 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. 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. [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. [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. 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. 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! That acquisition gave UMG a 30 billion ($36 billion) enterprise value as recently as January. Subscribe. So far, the answer to this question has largely been informed by the recent acquisition of 20% in UMG, via two installments, by a consortium led by Tencent. In 2020, Tencent acquired 20% stake in the label. 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.. Such forward-looking statements are made as of the date of this press release. The Five Most Powerful People in the Music Industry Don - Rolling Stone We have sent a confirmation email to {USEREMAIL}. 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. 3. 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. Inside Universal, Sony, and Warner's Arms Race For Your Attention UMG chairman & CEO Lucian Grainge is based at the company's Santa Monica offices. 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. European Rights to Sony Music", Universal Music UK Announces Launch of Virgin EMI Records, "H Cobalt Music "" Universal Music Greece", "MINOS-EMI Greek Universal Subsidiary | GreekReporter.com", "Edel kauft legendres Jazzlabel von Universal", "Universal Music Group (UMG) & Disney Music Group (DMG) Expand Agreement Globally", "UNIVERSAL MUSIC GROUP (UMG) & DISNEY MUSIC GROUP (DMG) EXPAND AGREEMENT GLOBALLY", Motown Records and EMI Gospel Announce Joint Venture: Motown Gospel | EURweb Part 1, "Vivendi Declined SoftBank's Lucrative Offer for Universal", "Universal Music Group valuation hits $50bn as Vivendi seeks 'half dozen' investment bank partners", "Universal Music Distribution Owns Record Nine of Top 10 Digital Songs", "Universal a perfect 10 on Billboard 100", "SAG-AFTRA Honors 'Secret Life Of The American Teenager', "SAG-AFTRA Announces American Scene Award Recipients", "Universal Music Group Breaks Up Its Island Def Jam Division", "Amy wins best documentary feature Oscar", "Universal Music Group Taps David Blackman, Scott Landis for Film, TV Development and Production", "Universal Music Group Revives Polygram Label for Film and TV Production", "Grammy Awards bring gold to revitalized Capitol Records", "Universal Music Canada donates EMI Music Canada archive to University of Calgary", "Universal Music Group Buys Digital Marketer Fame House From SFX", "Paul McCartney Signs Worldwide Deal with Capitol Records", "The Bee Gees Ink Worldwide Deal With Capitol Records", "Spotify, UMG finally reach long-term streaming deal", "Universal Music Group Inks Major Licensing Deal With Tencent in China", "China's Tencent seals exclusive music licensing deal with UMG", "Luis Fonsi Breaks Seven Guinness World Records Titles Thanks To 'Despacito', "Universal Music Group Partners With 'Beat Bugs' Producers for Three New Music-Based Series", "Universal Music Group's New Program to Benefit Music-Based Startups", "USC Annenberg launches 'Annenberg Inclusion Initiative', "Universal 'accelerates efforts to promote diversity and inclusion' with new initiative", "Universal Music Acquires Iconic British Labels Stiff Records and ZTT", "Universal Music signs multiyear licensing deal with Facebook", "YouTube signs deal with UMG, Sony over streaming policies", "Rolling Stones Expand Partnership With Universal Music Group", "Vivendi to Sell Up to Half of Universal Music Group", "Why a Partial Universal Music Group Sale Could Spark a Wider Music Biz Selloff", "Rumor Mill - IT'S GOOD TO BE KINGBETTER THAN EVER, IN FACT", "Universal Music to boost its investment in Africa", "The world's biggest music company is setting its sights on Africa", "Elton John signs with Universal 'for the rest of his career', "Taylor Swift's New Record Deal Affects Thousands of Other Musicians", "Taylor Swift Stands to Make Music Business History as a Free Agent", "Taylor Swift Signs New Deal With Universal Music Group", "Queen's "Bohemian Rhapsody" is the most streamed classic rock song of all time", "Universal Music to Acquire Distributor Ingrooves in Move to Strengthen Commitment to Indie Labels", "Universal Music Group on the Forbes America's Best Midsize Employers List", "That Glitchy Music Video on YouTube? The company represents artists such as Justin Bieber, Lady Gaga, and Kanye West, and has partnered with retailers including Barneys, Bloomingdale's and Selfridges. 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. is in an oddly inert place right now. 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. Get news from your favorite artists before everyone else. [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. Melody Island was an animated series based on tropical island music with live craft segments. Sir Lucian Grainge, UMGs Chairman and CEO, said, 2021 was yet another historic year for UMG. 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. The 100 Greatest TV Shows of All Time All Rights reserved. Def Jam, Island and Republic Records also maintain offices there. UMG retained The Beatles (formerly of Parlophone) and Robbie Williams (formerly of Chrysalis). We helped our artists achieve extraordinary success including 8 of the IFPIs top 10 global artists of the year. EBITDA amounted to 1,686 million, an increase of 13.4%, or 14.7% in constant currency, compared to 2020, also as a result of the growth in revenues. 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? Lucian Grainge- Net worth, Salary. 319 Million. Does Universal Studios own Universal Music Group? Universal Music Group: revenue 2021 | Statista [46] In November 2012, Steve Barnett was appointed chairman and CEO of Capitol Music Group. Once again, though, Daniel Kerven has trumped all-comers. Taylor Swift is one of the many hit artists signed to Universal Music's umbrella. Investors and analysts interested in asking questions can pre-register for a dial-in line atinvestors.universalmusic.comunder the Financial Reports tab. A Are Universal Music Group internships paid? 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. Q1 2022 Results: May 3, 2022 [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. 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. Vivendi distributed 60% of its UMG shares and retaining 10%. 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. [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. [157] Megaupload dismissed its case against UMG in January 2012. Universal Music Group - Wikipedia Show us what you've . Erika Begun investorrelations@umusic.com, Upcoming Calendar Based on IFRS 2, the fourth quarter of 2021 included certain non-cash share-based compensation which, as disclosed in the Companys prospectus dated September 14, 2021, was awarded by UMGs former parent company, Vivendi SE, to several UMG executives in connection with the Companys Admission to the Euronext Amsterdam. How Universal Music CEO Lucian Grainge Became The Most Powerful Man In Morgan Wallen. $49 Billion? We own and operate a broad array of businesses engaged in recorded music, music publishing, merchandising, and audiovisual content in more than 60 countries. 2. 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. Kerven also pointed to the first time monetization of emerging markets by streaming services (as demonstrated by Spotifys recent expansion into over 80 new territories)as well as the potential for UMG to earn more money from the use of its music in social media and fitness applications (as noted in this column in December). Thats equivalent to nearly $120 billion, and three times the valuation cemented by the Tencent consortium stake sale. UMG divested Mute Records, Parlophone, Roxy Recordings, MPS Records, Cooperative Music, Now That's What I Call Music!, Jazzland, Universal Greece, Sanctuary Records, Chrysalis Records, EMI Classics, Virgin Classics, and EMI's European regional labels to comply with this condition. 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. All non-IFRS measures should be considered in addition to, and not as a substitute for, other IFRS measures of operating and financial performance as presented in UMGs Condensed Consolidated Financial Statements and the related Notes, or as described in this press release. And we expanded our partner portfolio into emerging growth areas such as health and fitness, Web3 and social video. If approved by shareholders, this would bring UMGs total dividend for 2021 to 725 million, or 0.40 per share. 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. This compares to 10 million in non-cash share-based compensation expense in the prior year. Lucian Grainge - Wikipedia Music Publishing revenue amounted to 408 million in the fourth quarter of 2021, up 31.6% year-over-year, or 28.3% in constant currency. The increase in Adjusted net profit was driven by the growth in EBITDA. [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. The 200 Greatest Singers of All Time Thank you for registering! For more information on Universal Music Group N.V. visitwww.universalmusic.com, Media 99%. Popular; COVID-19 Related; More generally, Kerven pointed to a potential convergence premium, given musics ability to drive traffic, engagement and support much bigger and more valuable ecosystems. In other words, whatever the next iPhone, Facebook or TikTok might be, its going to need music and its going to need to pay Universal in order to use it. These values are the essence of our people which makes UMG the most renowned company in the music industry. UMG Executive Vice President Michele Anthony and Universal Music Publishing Group Chairman and CEO Jody Gerson have oversight of the pair. 92 Customers rate Universal Music Group's Net Promoter Score a 36, which ranks it 1st against its competitors. Note: % YoY indicates % change year-over-year; % const. [110], In June 2021, Pershing Square Tontine Holdings, a special-purpose acquisition company run by investor Bill Ackman, announced it would acquire 10 percent of UMG before it went public, in a $4 billion transaction. Bachelor of Arts (BA), Communication Avg. 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. No wonder Som Livre, Brazils biggest domestic label, is believed to be close to selling up for around $300 million. [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]. [57], On March 20, 2013, UMG announced the worldwide extension of their exclusive distribution deal with the Disney Music Group, excluding Japan. 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 . [38] Among the other companies that had competed for the recorded music business was Warner Music Group which was reported to have made a $2billion bid. Universal Music Group CEO and chairman Sir Lucian Grainge has a good shot at topping any music-industry power list in 2019. Some think Tencent got an absolute bargain. [28][29], In June 2007, UMG acquired Sanctuary, which eventually became UMG's entertainment merchandising and brand management division, Bravado. 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). Net worth score. 4150 International Plz Fort Worth, TX 76109 8442 McDaniel Rd Fort Worth, TX 76126 PO Box 174 Strawn, TX 76475. What Is Universal Music Group Worth? - AudiobyRay [145] Representatives for R.E.M. 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. This came two months after the separation of Warner Music Group from Time Warner. Were an independent distributor working with unsigned artists to put their music online for free. First, the record label plans to spinoff from parent company Vivendi and go public at the end of 2021. 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 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 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. 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. [55][56] Edel AG acquired the MPS catalogue from Universal in January 2014. Revenues benefited from the continued growth in subscription and streaming, the timing of certain society distributions and an improvement in synchronization income. Free cash flow increased to 638 million in 2021 compared to negative 158 million in 2020, mainly as a result of the improvement in Net cash provided by operating activities and lower cash paid for catalogue acquisitions, which declined to 388 million in 2021, compared to 929 million in 2020, based on the timing of deals. [9] Megaupload said that the video contained no infringing content, commenting: "we have signed agreements with every featured artist for this campaign". Universal chairman and CEO Lucian Grainge will also get bonuses linked to the listing that, according to Reuters, could add up to as much as $400 million. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Sign up to our newsletter and make sure you don't miss a thing! In its IPO, UMG hits 54 billion ($62.6 billion) valuation which is over a third bigger than initial valuation. 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. [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. [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. For more information on how Universal Music Group for Brands can create authentic connections for your brand, please contact us here. Moreover, in 2012, the CEO of Disney's music division, Alan Horn, became the chairman of Universal Music Group's board of directors. SIGN UP TO THE NEWSLETTER BELOW, USING YOUR SOCIAL ACCOUNT OR EMAIL. [16][17] The Decca Record Co. Ltd. of England spun American Decca off in 1939. In June 2018, Universal Music Japan announced an exclusive license agreement with Disney Music Group. 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.

Ppg Dbc Basecoat Mixing Ratio, Animate Dead Mtg Combo, What Percentage Of Cash Is Used For Illegal Activity, Walter Johnson Baseball Card, Articles U