What Happens To Doves Released At Weddings, Bradenton Herald Mugshots, Articles U

SIGN UP TO THE NEWSLETTER BELOW, USING YOUR SOCIAL ACCOUNT OR EMAIL. We are Universal Music Group, the world's leading music company. He writes a regular column for Rolling Stone. 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. 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. The core values that comprise Universal Music Group are Authenticity, Boldness, Creativity, Connection, Drive and Insight. However, it also spent 2.5bn on catalogue acquisitions and artist advances during the year, including re-signing stars such as. 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. Universal, of course, recently laid down the hammer on this narrative by buying Bob Dylans song catalog for as much as $400 million. With Grainge's appointment as CEO at UMG, Max Hole was promoted to COO of UMGI, effective July 1, 2010. Actual results may differ materially from such forward-looking statements as a result of a number of risks and uncertainties, many of which are related to factors that are outside UMGs control, including, but not limited to, UMGs inability to compete successfully and to identify, attract, sign and retain successful recording artists and songwriters, failure of streaming and subscription adoption or revenue to grow or to grow less rapidly than anticipated, UMGs reliance on digital service providers, UMGs inability to execute its business strategy, the global nature of UMGs operations, UMGs inability to protect its intellectual property and against piracy, UMGs inability to attract and retain key personnel, changes in laws and regulations and the other risks that will be described in the annual report. Now thats music to Universals and its prospective investors ears. 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. The descriptions of these alternative performance indicators and reconciliations of non-IFRS to IFRS measures are included in the Appendix to this press release. Malinda Kathleen Reese's Net Worth. 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. 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. Aerosmith Hands Entire Catalog to Universal Music Group, considering a proposal to spin out 60% of the worlds biggest music company. Subscribe. Universal Music Group, the world leader in music-based entertainment, leverages proprietary access and insights to develop innovative integrated brand opportunities globally with the potential to reach billions of engaged fans across digital media, events, name and likeness, sync & more. A big part of that is, obviously, the omission of live concerts, plus the relative quiet of the major record companies. 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. The Company will host a conference call to discuss these results on Thursday, March 3, 2021 at6:15PM CEST. [157] Megaupload dismissed its case against UMG in January 2012. [90] That same month, Vivendi announced it would explore selling as much as half of Universal Music Group to one or more investors. 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. 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. [57], On March 20, 2013, UMG announced the worldwide extension of their exclusive distribution deal with the Disney Music Group, excluding Japan. 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. 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. 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 settlement of the claim, the companies collectively agreed to pay a $67.4 million fine and distribute $75.7 million in CDs to public and non-profit groups. [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. [130], In 2002, a similar settlement was entered into with music publishers and distributors Sony Music, Warner Music, Bertelsmann Music Group, EMI Music and Universal Music Group and certain retailers, without admission of liability or wrongdoing, with various states. 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). Universal Music Group N.V. Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2021 Summary FY 2021 Results[1] Revenue of 8,504 million, representing growth of 17.0% year-over-year in constant currency, driven by strong growth across all segments In the interest of balance, there is a more bearish case to be made on Universals valuation today. [100] In February 2019, UMG fully acquired music distributor INgrooves. 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. 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. [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. 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. Keep reading to discover what it's like to work with the best in the business. 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. 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. 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. Subscribe. 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. James Murtagh-Hopkins communicationsnl@umusic.com, Investors [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. Bruce Resnikoff is President/CEO at Universal Music Enterprises. That same month, UMG signed a global, multi-year agreement with Facebook becoming the first of The "Big Three" to license its recorded music and publishing catalogs for video and other social experiences across Facebook, Instagram and Oculus. The vault held masters for the MCA, ABC, A&M, Geffen and Interscope labels; as well as some smaller subsidiary labels. Subscribe. [34], Doug Morris stepped down from his position as CEO on January 1, 2011. [80][81], In August 2017, UMG and Grace/Beyond agreed to develop three new music-based television series, 27, Melody Island and Mixtape. Send us a tip using our anonymous form. Arnaud de Puyfontaine, CEO, Vivendi The MBW Review offers our take on some of the music biz's biggest recent goings-on. Annual General Meeting of Shareholders: May 12, 2022. What is Universal Music Group worth? In 2020, Tencent acquired 20% stake in the label. The company represents artists such as Justin Bieber, Lady Gaga, and Kanye West, and has partnered with retailers including Barneys, Bloomingdale's and Selfridges. With a gross percentage margin of 25%, to deliver $5.6 billion, Spotify would need to generate annual revenue of $22.4 billion, which in turn would pay the record industry $11.6 billion, based on the net revenue share of 52% that Spotify gives the major record companies., He continued: Now, if we assume that Spotify has a 35%-ish market share, the total music streaming markets annual payouts to the record industry would have to reach $33.1 billion for these projections to make sense. Accordingly, UMG cautions readers against placing undue reliance on such forward-looking statements. The turnover of UMG in 2010 cost $5584 million. The MBW Review is supported by FUGA. Subscribe. Universal Music Spain is based in Madrid, Spain. [152] Megaupload requested an apology from UMG, and filed a lawsuit against the company in the United States District Court for the Northern District of California, on December 12, 2011. The 100 Greatest TV Shows of All Time [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. Required fields are marked *. [104] The deal is expected to be of $3.36 billion. UMG's corporate headquarters are located in Hilversum, Netherlands and its operational headquarters are located in Santa Monica, California. 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. [115], In January 2023, Sherry Lansing was named the Chairman of Board of Directors of the Universal Music Group in 2023. Universal CEO Lucian Grainge said of the closure, "No matter how much we might work to build 'IDJ' as a brand, that brand could never be as powerful as each of IDJ's constituent parts. 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.. [74] That same year, Paul McCartney and the Bee Gees both signed to UMG's Capitol Records, including their catalog releases. As for 2023, the chairman Lucian's Net Worth income is around $50 million according to some sources but it is not confirmed. CEO Lucian Grainge Stock Symbol AMS: UMG [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. Universal Music Group's largest corporate shareholder, Tencent, is headquartered in Shenzhen, China. [131] It was estimated that consumers were overcharged by $500 million and up to $5 per album.