Universal, of course, recently laid down the hammer on this narrative by buying Bob Dylans song catalog for as much as $400 million. 100% Approve of CEO. In January 2011, UMG announced it was donating 200,000 master recordings from the 1920s to 1940s to the Library of Congress for preservation. 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). impairment losses on goodwill and other intangibles; other income and expenses related to transactions with shareowners (except when directly recognized in equity); depreciation of tangible assets including right of use assets; (gains)/losses on the sale of tangible assets, included right of use assets and intangible assets; impairment losses on goodwill and intangible assets; other charges and income related to transactions with shareowners; financial income and expenses, excluding interest and income from investments; non-cash share-based compensation expenses; certain one-time items that are deemed by management to be significant and incidental to normal business activity; income taxes and adjustments attributable to non-controlling interests; and. UMG boss Lucian Grainge is due a $201 million payday more than the total income of all UK songwriters and composers put together. Starting in 2011 UMG's Interscope Geffen A&M Records began signing contestants from American Idol. [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. Music Publishing EBITDA of 307 million was up 14.1% year-over-year, or 16.3% in constant currency. PGA TOUR stats, video, photos, results, and career highlights. With more than 1.813 billion shares outstanding, the music powerhouse would at that price have a market valuation of about 33.5 billion euros ($39.3 billion). [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. [52] Play It Again Sam acquired Co-Operative Music for 500,000 in March 2013. 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. Universal Music Group N.V. Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2021. A $65 million bonus will push Universal Music Group CEO Lucian Granges 2021 income up to $201 million. 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. 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. - Dallas-Fort Worth, TX Area - Dallas, TX - Houston, TX Area - Missouri City, TX - Houston, TX . Recorded Music EBITDA in 2021 was 1,614 million, up 18.7% year-over-year, or 20.4% in constant currency, driven by the growth in revenues. 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. [94][95] In September 2018, singer Elton John signed a global partnership agreement with UMG across recorded music, music publishing, brand management, and licensing rights. [114], In October 2022, Mercedes-Benz launched a new in-car audio collaboration with Apple Music and Universal Music Group. "[68] Island Records and Def Jam now operate as autonomous record labels. 4150 International Plz Fort Worth, TX 76109 8442 McDaniel Rd Fort Worth, TX 76126 PO Box 174 Strawn, TX 76475. 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. A 29bn valuation would actually make Universal Music Group - led by CEO & Chairman Sir Lucian Grainge (pictured) - worth more than its owner, Vivendi. Spotifys recent expansion into over 80 new territories), nibbling into the overall streaming market share, believed to be close to selling up for around $300 million, Report: Sony Music Knew Of Australia Workplace Abuse Allegations For Decades, Kenny Beats Wants to Teach You About the Music Biz, BMG's CEO Has a Grand Idea for the Music Industry: Don't Screw Over Artists, Another Blockbuster Deal: Tina Turner Sells Entire Catalog to BMG, The National Stay Up Late to Perform 'Tropic Morning News' on Fallon, David Lindley, Multi-Instrumentalist Who Shaped the Sound of Soft Rock, Dead at 78, Suki Waterhouse Won't Take Romance for Granted on New Single 'To Love', Travis Barker Says His Finger Ligament Surgery Was a 'Success' After Postponing Blink-182 Tour. Revenues benefited from the continued growth in subscription and streaming, the timing of certain society distributions and an improvement in synchronization income. The company represents artists such as Justin Bieber, Lady Gaga, and Kanye West, and has partnered with retailers including Barneys, Bloomingdale's and Selfridges. The unimpressed online response is aggravated by the current focus on streaming incomes in the UK, with a study into the competitive market on the way and a government inquiry demanding a complete reset of a sector that hasnt modernised since the age of streaming arrived. 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. Universal's take of Geiger's "conservatively" projected industry total of $74 billion a decade from now, based on the label's 40% market share, comes in just shy of $30 billion. EBITDA margin is EBITDA divided by revenue. [93] In August 2018, UMG announced a strategic expansion in Africa, opening an office in Abidjan to oversee French-speaking Africa, and also unveiling a Universal Music Nigera office in Lagos to focus on signing local artists and taking them global. [50][51] Later in February, Sony Music Entertainment acquired UMG's European share in Now That's What I Call Music for approximately $60million. All rights reserved. It moved in 2002 from Hamburg to the district Friedrichshain at the river Spree. For more information on Universal Music Group N.V. visitwww.universalmusic.com, Media Physical revenue grew 18.6% year-over-year, or 21.2% in constant currency, driven by strong vinyl demand as well as growth in direct-to-consumer sales. 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. Some think Tencent got an absolute bargain. (Paris-based Vivendi is currently sitting at around a 28bn market cap on the stock exchange in Europe.) [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. [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. estimated UMG might be worth somewhere between $29 billion and $42 billion. Head here to find out how our free music distribution can get your music heard. Melody Island was an animated series based on tropical island music with live craft segments. [60] In May 2013, Japanese company SoftBank offered $8.5billion to Vivendi for the acquisition of UMG, but Vivendi rejected it. [27], On September 6, 2006, Vivendi announced its 1.63billion ($2.4billion) purchase of BMG Music Publishing; after receiving European Union regulatory approval, the acquisition was completed on June 25, 2007. [153][154], UMG denied that the takedown was ordered under the terms of the Digital Millennium Copyright Act, and said that the takedown was "pursuant to the UMG-YouTube agreement," which gives UMG "the right to block or remove user-posted videos through YouTube's CMS (Content Management System) based on a number of contractually specified criteria. [72], In March 2016, Universal Music Canada donated the archives of EMI Music Canada to the University of Calgary. ; Asturianu; ; ; () ; Catal; Cebuano; etina [124] Company's legal headquarters are in the Netherlands. [9] 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. Mixtape had twelve episodes, with each episode connected to a song. [103], In August 2019, Tencent and Vivendi started negotiation to sell 10% Vivendi's stake of Universal Music to Tencent. UMG considers free cash flow, a non-IFRS measure, to be a relevant indicator of the groups cashflow generated to fund dividend payments and repayment of debt. [145][146], A representative for Eminem confirmed that the rapper's master recordings were digitized months before the fire, but could not confirm whether the physical master reels of his recordings were affected. 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. 92 Universal Music Group reviews. James Murtagh-Hopkins communicationsnl@umusic.com, Investors "[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. It enables UMG to compare the operating performance of operating segments regardless of whether their performance is driven by the operating segments organic growth or by acquisitions. 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. 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. [34], Doug Morris stepped down from his position as CEO on January 1, 2011. [151] The music video was also uploaded to YouTube, but was removed following a takedown request by UMG. 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. cash and cash equivalents, as reported in the Consolidated Statement of Financial Position, including (i) cash in banks and deposits, whether or not compensated, corresponding to cash, and (ii) money market funds; cash management financial assets, included in the Consolidated Statement of Financial Position under financial assets, relating to financial investments, which do not satisfy the criteria for classification as cash equivalents set forth in IAS7; and. Universal Music Group 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 . He has a net worth of $810 million, which . License and other revenue improved 15.5% year-over-year, or 16.5% in constant currency, as a result of improvements in broadcast and neighboring rights collections, audio-visual production income and synchronization, live and brand deals. [106], The company and Lego Group announced a music product partnership on April 26, 2020. Is Universal Music Worth $29 Billion? Capitol Music Group is headquartered at the Capitol Records Building in Hollywood. [44][45], Universal Music Group completed their acquisition of EMI on September 28, 2012. [112], In February 2022, Universal Music Group announced a partnership with Curio, an NFT platform, to create NFT collections for its record labels and artists. The stars boost music investments and global expansion. Operating profit improved 14.6%, or 15.4% in constant currency, to 1,399 million in 2021 driven by the growth in revenues. The Guardian pointed out that Grainges bonus comes from Universal Musics 2021 IPO as well as Tencent buying a 10% stake in the company. Popular. [13][14] UMG was named by Forbes as one of America's Best Midsize Employers in 2019. Universal Music Group's Universal Music Polska is located in Warsaw. A free inside look at company reviews and salaries posted anonymously by employees. Merchandising and Other revenue grew to 141 million, up 45.4% year-over-year, or 42.4% 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 rebound in 2021. This time, look at the surprising, out-of-the-blue valuation of Universal Music Group at over $40bn - backed up by Vivendi's CEO. Universal Music Latin Entertainment is headquartered in Miami, Florida. Your email address will not be published. [77][78][79], In July 2017, "Despacito" by Luis Fonsi, Daddy Yankee and featuring Justin Bieber, became the most streamed track of all time. 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!
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