Universal Music Group is worth $33bn, says Deutsche Bank Universals labels are now signing more generous deals with superstar artists like Taylor Swiftthan ever before. Copyright 2023 Penske Business Media, LLC. With Grainge's appointment as CEO at UMG, Max Hole was promoted to COO of UMGI, effective July 1, 2010. We have sent a confirmation email to {USEREMAIL}. [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. Starting in 2011 UMG's Interscope Geffen A&M Records began signing contestants from American Idol. Adjusted Net Profit/Adjusted Net Profit per share. EBITDA for the quarter declined 4.2% year-over-year, or 6.8% in constant currency, to 438 million, as a one-time non-cash compensation charge more than offset the benefit of revenue growth. 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. This dividend proposal is subject to approval by the Annual General Meeting of Shareholders to be held on Thursday, 12 May 2022. Perhaps, though, this is the calm before the storm. All Rights reserved. 100% Approve of CEO. Universal Music Group's largest corporate shareholder, Tencent, is headquartered in Shenzhen, China. Could Universal Music Group really be worth more than $40bn? The music business is kind of bored. UMG is the largest record company worldwide and parent company . Lucian Grainge - Wikipedia October 8, 2021 5:08 AM ET. 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. 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). [57], On March 20, 2013, UMG announced the worldwide extension of their exclusive distribution deal with the Disney Music Group, excluding Japan. 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.. Grainge earns an annual salary of over $10 million as the chairman and Chief executive officer of Universal Music Group 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. 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. While listeners may use the webcast, a dial-in telephone number is required for investors and analysts to ask questions. 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 [48] Two months later, BMG acquired Sanctuary Records for 50 million ($58 million). [159][160], "Universal Records" redirects here. The initiative is meant to create change for representation of women and underrepresented racial and ethnic groups in the media industry. Net Worth in 2021. according to 2022 forbs richest personality report Kenneth Hao on rank "United States" with net worth of "1500 crores USD" till 2022. The same day, UMG announced launch of its new affiliates in Morocco and Israel. Free Cash Flow, as we calculate it, may not be comparable to similarly titled measures employed by other companies. In 2021, Universal Music Group generated 8.5 billion euros in revenue, up from 7.43 billion in the previous year. UMG Executive Vice President Michele Anthony and Universal Music Publishing Group Chairman and CEO Jody Gerson have oversight of the pair. 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. 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. Grainge later replaced him as chairman on March 9, 2011. 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 [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. Universal Music Group Tencent emerged as UMG's biggest corporate shareholder with 20% of shares. [15], The company's origins go back to the formation of the American branch of Decca Records in September 1934 and its name and company logo originates from Carl Laemmle's Universal Pictures. [11], In January 2022, UMG acquired the Icelandic record label Alda Music, which owned the rights to nearly 80 percent of all music released in Iceland. Thats equivalent to nearly $120 billion, and three times the valuation cemented by the Tencent consortium stake sale. 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). Downloads and other digital revenue were flat, but declined 3.3% in constant currency, as download sales continue their industry-wide decline. Island Records 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. Universal Music Group N.V. Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2021. 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). 99%. [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. . ", "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. [145] Representatives for R.E.M. [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. Universal Music Group Valued at About $39B Ahead of Listing 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. The stars boost music investments and global expansion. Universal Music Group Nashville is headquartered in Nashville, Tennessee.[123]. "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. 4150 International Plz Fort Worth, TX 76109 8442 McDaniel Rd Fort Worth, TX 76126 PO Box 174 Strawn, TX 76475. Universal Music Revenue $9 B Employees 9,215 Primary Industries Holding Companies & Conglomerates Media & Internet Music Production & Services Funding History Universal Music Group raised a total of $3.5 B in funding over 1 rounds, and is a public traded company. And we expanded our partner portfolio into emerging growth areas such as health and fitness, Web3 and social video. When it went public on the Euronext Amsterdam exchange, UMG was valued at 45.4 billion euros ($53.2 billion) up dramatically from the $8.5 billion that Softbank had offered for the company in. First, the record label plans to spinoff from parent company Vivendi and go public at the end of 2021. malinda youtube 5. Yet the entire global record business earned $11.4 billion from streaming in 2019. Download English songs online from JioSaavn. [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. The 100 Greatest TV Shows of All Time That acquisition gave UMG a 30 billion ($36 billion) enterprise value as recently as January. [55][56] Edel AG acquired the MPS catalogue from Universal in January 2014. [9] 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. Image Credit: Universal Music Group UMG boss Lucian Grainge is due a $201 million payday - more than the total income of all UK songwriters and composers put together. Megaupload said that the video contained no infringing content, commenting: "we have signed agreements with every featured artist for this campaign". Millions of dollars. 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. Richard Rosenblatt (born 1969) is a serial entrepreneur as well as the Co Founder, Chairman and CEO of Demand Media. One Thing At A Time - the new album. Sort. But with annual costs of around $2 billion, Spotify is currently operating at close to break-even. [106], The company and Lego Group announced a music product partnership on April 26, 2020. Monte Lipman - Founder & Chi.. - Universal Music Group | ZoomInfo Revenues benefited from the continued growth in subscription and streaming, an improvement in synchronization income and from the benefit of catalogue acquisitions. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Sign up to our newsletter and make sure you don't miss a thing! UMG has offices in New York City where Island Records, Def Jam Recordings, Republic Records, Verve Label Group, and Spinefarm Records are headquartered. Pershing Square Holdings held 10% of UMG shares. 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. Once again, though, Daniel Kerven has trumped all-comers. In a research note earlier this month, Morgan Stanley analysts Omar Sheikh and Patrick Wellington suggested that UMG could now carry a fair value worth of around $49 billion. Taylor, Darren Rodney (PDF, 154KB) Death in custody, natural causes. UMG retained The Beatles (formerly of Parlophone) and Robbie Williams (formerly of Chrysalis). PGA TOUR stats, video, photos, results, and career highlights. [44][45], Universal Music Group completed their acquisition of EMI on September 28, 2012. [50][51] Later in February, Sony Music Entertainment acquired UMG's European share in Now That's What I Call Music for approximately $60million. Get news from your favorite artists before everyone else. SIGN UP TO THE NEWSLETTER BELOW, USING YOUR SOCIAL ACCOUNT OR EMAIL. [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. Recorded Music EBITDA margin improved by 0.9pp to 23.7% from 22.8% in 2020 due to operating leverage. 36 songs. 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. It's Getting an Upgrade", "Vivendi Enters Talks With Tencent to Sell Stake In Universal Music Group", "Tencent in Talks to Buy 10% of Universal Music Group", "Universal Music Group Planning IPO Within Next Three Years", "THE LEGO GROUP AND UNIVERSAL MUSIC GROUP JOIN TO EXPAND CHILDREN'S CREATIVE PLAY THROUGH THE POWER OF MUSIC", "Virgin EMI rebrands as EMI, Rebecca Allen appointed as label president", "UNIVERSAL MUSIC GROUP EXPANDS IN THE MIDDLE EAST AND NORTH AFRICA", "Spotify, Universal Music Group Reach Multiyear, Global Licensing Deal", Majority of Icelandic Music Catalogue Sold to Universal Music, "Exclusive: Universal Music to develop collectible NFTs in deal with Curio platform", "Universal Music Group assigned Baa1 and BBB long-term credit ratings by Moody's and S&P", "Mercedes-Benz Launches new Audio Collaboration With Apple Music & Universal Music Group", "SHERRY LANSING NAMED CHAIRMAN OF THE BOARD OF UNIVERSAL MUSIC GROUP N.V.", "Universal Music Group and Google Partner for Vevo", "Announcing VEVO, a Partnership with Universal Music Group", "Universal to Create Hulu-like Music Video Site", "Steve Barnett to lead Capitol Music Group", "Cindy Oliver Q&A: Getting to Know the EVP in Charge of Doling Out the Dough to Universal Music Artists", "Universal Music Moving UK Headquarters from Kensington to King's Cross", "Universal Music Canada Relocating to 'Rock Star Building' in Downtown Toronto", "Universal Group suspends all operations in Russia", "USATODAY.com - States settle CD price-fixing case", "5 Music Companies Settle Federal Case On CD Price-Fixing", "A Landmark Legal Battle Over a Toddler Dancing to Prince Song Looks to Be Ending", "The Non-Legacy of the Dancing Baby Case", "Universal Music Group Backs Off Claims to Michelle Malkin Video", "Ok, Now It's Done. Popular; COVID-19 Related; Universal Music Group operates a secondary office in Woodland Hills that includes finance, royalty, and operations functions.[122]. Vivendi's music unit UMG worth more than $40 billion, CEO says This press release may contain statements that constitute forward-looking statements with respect to UMGs financial condition, results of operations, business, strategy and plans. [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. Featuring the most comprehensive catalogue of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Universal Music Group CEO and chairman Sir Lucian Grainge has a good shot at topping any music-industry power list in 2019. The increase in Adjusted net profit was driven by the growth in EBITDA. 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. Artist/songwriter agreements with music publishers today expire with relative regularity. Sir Lucian Grainge, UMGs Chairman and CEO, said, 2021 was yet another historic year for UMG. The Five Most Powerful People in the Music Industry Don - Rolling Stone Analysts suggest that the world's biggest music rights-holder could be worth three times its current public valuation. Universal Music Group Valued at $53 Billion in New Goldman - Variety 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. 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. 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. © 2023 RouteNote Blog. 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. Vivendi's Universal Music Group, the world's biggest music label, is worth a stunning $22 billion, the French owner of the label said Tuesday. 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 Now thats music to Universals and its prospective investors ears. [121] Universal Music Latin Entertainment is also headquartered in Hollywood. To calculate EBITDA, the accounting impact of the following items is excluded from the income from Operating Profit: Adjusted EBITDA and Adjusted EBITDA margin. (Paris-based Vivendi is currently sitting at around a 28bn market cap on the stock exchange in Europe.) 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. 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. $49 Billion? 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. Universal Music Publishing Group net worth Mar, 2023 - People Ai She has also been featured in an original music video on. [90] That same month, Vivendi announced it would explore selling as much as half of Universal Music Group to one or more investors. Campaigners would like to see at least some of that windfall to trickle down to the songwriters and artists whose music keeps the industry running. Operating profit improved 14.6%, or 15.4% in constant currency, to 1,399 million in 2021 driven by the growth in revenues. Universal Music Group - Net Worth, Bio/Wiki 2018 - Richest Celebrities Financial Net Debt is calculated as the sum of: UMG defines Free Cash Flow as net cash provided by/(used for) operating activities plus net cash provided by/(used for) investing activities, less repayment of lease liabilities, interest paid, net and other cash items related to financing activities. That's 340% greater than the $6.7 billion in revenue Universal reported for 2013. [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. Metro Boomin. [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. Records, John Coltrane, Muddy Waters, Ahmad Jamal, Nashboro Records, and Chess Records masters survived the fire and were still in Universal's archive. Moreover, in 2012, the CEO of Disney's music division, Alan Horn, became the chairman of Universal Music Group's board of directors. [103], In August 2019, Tencent and Vivendi started negotiation to sell 10% Vivendi's stake of Universal Music to Tencent. [68], Universal Music Group entered into film and TV production with the 2014 purchase of Eagle Rock Entertainment. The music icon & global superstar drops new single "Kant Nobody" feat. The decline in Net profit attributable to equity holders of the parent was due to the variance in revaluation of investments in listed companies (including Spotify and Tencent Music Entertainment) that was a net expense in 2021 of 315 million compared to a net gain in 2020 of 591 million. 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. Vivendi distributed 60% of its UMG shares and retaining 10%. 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. [We] have suggested a blue sky valuation of 100 billion, wrote Kerven of UMG. [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. Show us what you've . pre-order now. The company has seen a rise in its net worth which was at $22 billion in 2017 since Lucian took over leadership. James Murtagh-Hopkins communicationsnl@umusic.com, Investors In 2021, UMGs revenues of 8,504 million increased by 14.4% compared to 2020, or 17.0% in constant currency. Universal needs its stars for two of its upcoming initiatives. And the hits just keep on coming: The report projects that revenues of the worldwide recorded-music business will be up nearly $2 billion, from $21.6 billion in 2020 to $23.5 billion this year,. The company went public on September 21, 2021, at a valuation of 46 billion. 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. Subscribe. Send us a tip using our anonymous form. Music Publishing revenue amounted to 1,335 million in 2021, up 12.6% year-over-year, or 15.0% in constant currency. Universal Music Group: revenue 2021 | Statista 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. The company paid $12million to the state in settlement. [22][23] On December 9, 1996, the company was renamed Universal Studios, Inc.,[24] and its music division was renamed Universal Music Group; MCA Records continued as a label within the Universal Music Group. [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. A $65 million bonus will push Universal Music Group CEO Lucian Grange's 2021 income up to $201 million. In June 2018, Universal Music Japan announced an exclusive license agreement with Disney Music Group. Top sellers for the quarter included releases from ABBA, Taylor Swift, The Beatles, Drake and BTS, while top sellers in the prior-year quarter included Ariana Grande, Pop Smoke, BTS, Taylor Swift, and Masaharu Fukuyama. Drops March 3rd. "[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. However, it also spent 2.5bn on catalogue acquisitions and artist advances during the year, including re-signing stars such as. [124], Universal Music Group Global (formerly known as Universal Music Group International (UMGI)) operates offices in London.[125]. Moreover, he is earning from his career as a chairman and chief executive officer of Universal Music Group. Average Universal Music Group Salary | PayScale Thank you for registering! Found 92 of over 1K reviews. Read More Universal Music Group N.V. Corporate Headquarters - Hilversum, Netherlands Lucian Grainge- Net worth, Salary. This came two months after the separation of Warner Music Group from Time Warner. Brandi Carlile Net Worth Her net worth has been growing significantly in 2020-2021. He formerly served as COO of Columbia Records. [59], On April 2, 2013, the gospel music divisions of Motown Records and EMI merged to form a new label called Motown Gospel. UMG management uses this indicator for reporting, management and planning purposes. [70] On February 11, 2017, PolyGram Entertainment was relaunched as a film and television unit of Universal Music Group under David Blackman. Grainge. [89] With the addition of Japan, UMG distributes releases from Disney Music Group globally. 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. 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