Pershing Square Holdings held 10% of UMG shares. By. Universal Music Group (UMG) is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising and audiovisual. A $65 million bonus will push Universal Music Group CEO Lucian Grange's 2021 income up to $201 million. [72], In March 2016, Universal Music Canada donated the archives of EMI Music Canada to the University of Calgary. Drops March 3rd. In February 2006, Vivendi (which own UMG since 2000) purchased the remaining 20 percent of UMG from Matsushita Electric. [10] Pershing Square Holdings later acquired ten percent of UMG prior to its IPO on the Euronext Amsterdam stock exchange. 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. UMG's operational headquarters are located in Santa Monica. 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. No wonder Som Livre, Brazils biggest domestic label, is believed to be close to selling up for around $300 million. She has also been featured in an original music video on. Aerosmith Hands Entire Catalog to Universal Music Group, considering a proposal to spin out 60% of the worlds biggest music company. Pay ranges for employees at Universal Music Group by degree. 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. A free inside look at company reviews and salaries posted anonymously by employees. 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. To calculate EBITDA, the accounting impact of the following items is excluded from the income from Operating Profit: Adjusted EBITDA and Adjusted EBITDA margin. Editors picks Universal Music Group operates a secondary office in Woodland Hills that includes finance, royalty, and operations functions.[122]. See Bruce Resnikoff's compensation, career history, education, & memberships. 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. [139] All traffic was redirected to MySpace after that company acquired Imeem on December 8, 2009. 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. Arnaud de Puyfontaine, CEO, Vivendi The MBW Review offers our take on some of the music biz's biggest recent goings-on. 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. 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. 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. If we assume for sake of argument that Spotify is able to grow without increasing its costs, it would have to generate $5.6 billion in gross margin to deliver those $3.6 billion in profits. Bruno lives in a lavish mansion thanks to his . 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. In 2021, UMGs revenues of 8,504 million increased by 14.4% compared to 2020, or 17.0% in constant currency. Last rating was a day ago. Last 30 days: $ 365, February 2021: $ 196, January Toggle navigation. [34], Doug Morris stepped down from his position as CEO on January 1, 2011. Dr. Dre Nearing Deal to Sell Music Rights. The rise of the DIY artist sector, which by sheer volume is now nibbling into the overall streaming market share of the three major record companies. 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. [60] In May 2013, Japanese company SoftBank offered $8.5billion to Vivendi for the acquisition of UMG, but Vivendi rejected it. DMX. [39] IMPALA opposed the merger. A 29bn valuation would actually make Universal Music Group - led by CEO & Chairman Sir Lucian Grainge (pictured) - worth more than its owner, Vivendi. Erika Begun investorrelations@umusic.com, Upcoming Calendar Head here to find out how our free music distribution can get your music heard. Kent Ray Taylor is an American businessman and entrepreneur with a net worth of $2. Adjusted Net Profit/Adjusted Net Profit per share. Vivendi distributed 60% of its UMG shares and retaining 10%. CEO Lucian Grainge Stock Symbol AMS: UMG Operating profit improved 14.6%, or 15.4% in constant currency, to 1,399 million in 2021 driven by the growth in revenues. But with annual costs of around $2 billion, Spotify is currently operating at close to break-even. [124], Universal Music Group Global (formerly known as Universal Music Group International (UMGI)) operates offices in London.[125]. [37], In 2011, EMI agreed to sell its recorded music operations to Universal Music Group for 1.2billion ($1.9billion) and its music publishing operations to a Sony-led consortium for $2.2billion. 92 Universal Music Group reviews. Salary $49k $96k Associate of Science (AS), Recording Arts Avg. derivative financial instruments, net (assets and liabilities) where the underlying instruments are Financial Net Debt items, as well as cash deposits securing borrowings included in the Consolidated Statement of Financial Position under financial assets; the value of borrowings at amortized cost as reported in the Consolidated Statement of Financial Position. Bruce Resnikoff is President/CEO at Universal Music Enterprises. In 2019, the company is at a valuation of $50 billion. [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]. [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. In accordance with UMGs dividend policy to pay a dividend of 50% of Net profit (subject to agreed non-cash items and applicable law), UMG has proposed to pay a final dividend of 363 million, or 0.20 per share for the year ended December 31, 2021. In January 2011, UMG announced it was donating 200,000 master recordings from the 1920s to 1940s to the Library of Congress for preservation. [157] Megaupload dismissed its case against UMG in January 2012. 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. Accordingly, UMG cautions readers against placing undue reliance on such forward-looking statements. He has a net worth of $810 million, which . Apr 8, 2022. Subscribe. 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). [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. At Universal Music Group (EURONEXT: UMG), we exist to shape culture through the power of artistry. Even $100 Billion? Although the movie studio and the music business share a common history, today the former is part of NBCUniversal and the latter an independent commercial entity. [100] In February 2019, UMG fully acquired music distributor INgrooves. The company paid $12million to the state in settlement. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Sign up to our newsletter and make sure you don't miss a thing! ; Asturianu; ; ; () ; Catal; Cebuano; etina (Paris-based Vivendi is currently sitting at around a 28bn market cap on the stock exchange in Europe.) We exist to shape culture through the power of artistry. 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. [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. 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. Last month, Universal Music Group (UMG) parent company Vivendi confirmed that its management board was considering a proposal to spin out 60% of the worlds biggest music companyonto the Amsterdam Stock Exchange at an undefined point in 2021. [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. [83], In November 2017, USC Annenberg announced UMG's partnership in the "Annenberg Inclusion Initiative", becoming the first music company to do so. [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. Grainge later replaced him as chairman on March 9, 2011. Lucian Grainge- Net worth, Salary. 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. [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. The initiative is meant to create change for representation of women and underrepresented racial and ethnic groups in the media industry. Excluding these items, Adjusted EBITDA for the year was 1,788 million, up 19.4% compared to 2020, or 20.9% in constant currency, driven by revenue growth. [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. 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. 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. Brandi Carlile Bio, Net Worth, Age, Married, Height. Morgan Wallen. Yet the entire global record business earned $11.4 billion from streaming in 2019. [73], In May 2016, UMG acquired Famehouse, a digital marketing agency. Whilst hailing the opportunities that the accessibility of streaming offers, Bevan called for an urgent need for the levelling out of the way revenue from a song is divided up. Thats approximately a 29-times multiple on UMGs EBITDA profit in 2020 ($1.7 billion), and 23-times the EBITDA that Morgan Stanley estimates that Universal will post in 2021. Required fields are marked *. Subscribe. Artist/songwriter agreements with music publishers today expire with relative regularity. 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. [28][29], In June 2007, UMG acquired Sanctuary, which eventually became UMG's entertainment merchandising and brand management division, Bravado. Millions of dollars. Universal Music Group's largest corporate shareholder, Tencent, is headquartered in Shenzhen, China. The biggest music business story of several years is waiting in the wings, and it could be even more climactic than anticipated. The family of French businessman Vincent Bollor is revealed as the majority shareholder with 28% of UMG shares, through its holding company Bollor (18%) and its subsidiary Vivendi (10%), headed by his son Yannick Bollor. Annual General Meeting of Shareholders: May 12, 2022. . [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. 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. The vault held masters for the MCA, ABC, A&M, Geffen and Interscope labels; as well as some smaller subsidiary labels. 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. "[66][67], On April 1, 2014, Universal Music announced the disbandment of Island Def Jam Music, one of four operational umbrella groups within Universal Music. 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. Brandi Carlile Net Worth Her net worth has been growing significantly in 2020-2021. 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. 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. We are a community of entrepreneurs committed to creativity and innovation. Universal, of course, recently laid down the hammer on this narrative by buying Bob Dylans song catalog for as much as $400 million. [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. 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. And we expanded our partner portfolio into emerging growth areas such as health and fitness, Web3 and social video. 99%. 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). Subscription and streaming revenue grew 18.7% year-over-year, or 16.1% in constant currency, with strong growth in both subscription and ad-supported streaming revenues. [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. [74] That same year, Paul McCartney and the Bee Gees both signed to UMG's Capitol Records, including their catalog releases. Def Jam, Island and Republic Records also maintain offices there. Once again, though, Daniel Kerven has trumped all-comers. 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. Universal Music Latin Entertainment is headquartered in Miami, Florida. UMG believes that an understanding of its sales performance, profitability, financial strength and funding requirements is enhanced by reporting the following non-IFRS measures. Subscribe. 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 Universal Music Publishing is also headquartered in the city. One Thing At A Time - the new album. The company represents artists such as Justin Bieber, Lady Gaga, and Kanye West, and has partnered with retailers including Barneys, Bloomingdale's and Selfridges. 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. [30][31][32][33], In 2008, Universal Music Group agreed to make its catalog available to Spotify, then a new streaming service, for use outside the U.S. on a limited basis. Taylor Swift is one of the many hit artists signed to Universal Music's umbrella. Tencent's ultimate largest controlling corporate shareholder, Naspers, is headquartered in Cape Town, South Africa. "[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. Moreover, in 2012, the CEO of Disney's music division, Alan Horn, became the chairman of Universal Music Group's board of directors. Universal Music Group CEO and chairman Sir Lucian Grainge has a good shot at topping any music-industry power list in 2019. Universal Music Group's Universal Music Polska is located in Warsaw. 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. [133], In 2007, with the help of the Electronic Frontier Foundation, Stephanie Lenz sued UMG's publishing company for allegedly improperly requesting that, pursuant to the Digital Millennium Copyright Act, YouTube remove a 29-second home video in which Lenz's child danced to a recording of Prince's song "Let's Go Crazy". . The 200 Greatest Singers of All Time 92 Customers rate Universal Music Group's Net Promoter Score a 36, which ranks it 1st against its competitors. 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. 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. 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. Former chairman/CEO of Universal Music International Lucian Grainge was promoted to CEO of the company. Read More Universal Music Group N.V. Corporate Headquarters - Hilversum, Netherlands In addition, Free Cash Flow does not necessarily represent funds available for discretionary use and is not necessarily a measure of our ability to fund our cash needs. 19, 2021. 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.. Thats equivalent to nearly $120 billion, and three times the valuation cemented by the Tencent consortium stake sale. 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. 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. [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. is in an oddly inert place right now. This press release is published by Universal Music Group N.V. and contains inside information within the meaning of article 7 (1) of Regulation (EU) No 596/2014 (Market Abuse Regulation). Tencent emerged as UMG's biggest corporate shareholder with 20% of shares. 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. Adele's net worth is a lot more than 19 + 21 + 25 + 30! Popular. 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. While UMG's net income was down to 886 million euros ($1.05 billion), or 0.49 euros (58 cents) per diluted . Malinda Kathleen Reese's Net Worth. [116], Universal Music Group co-developed with Google[117][118] Vevo, a site designed for music videos inspired by Hulu.com, which similarly allows free ad-supported streaming of videos and other music content. 27 would focus on musicians at the age of 27, an age at which several iconic musicians died. Note: % YoY indicates % change year-over-year; % const. [97][98][99], In December 2018, Queen's "Bohemian Rhapsody" became the most-streamed song from the pre-streaming era and the most-streamed classic rock song of all time. 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. Records, John Coltrane, Muddy Waters, Ahmad Jamal, Nashboro Records, and Chess Records masters survived the fire and were still in Universal's archive. Revenues benefited from the continued growth in subscription and streaming, the timing of certain society distributions and an improvement in synchronization income. 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 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. [159][160], "Universal Records" redirects here. 319 Million. 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. Taylor Swift. Net worth score. The deal collapsed in July 2021 due to regulatory concerns, and it was announced that Ackman's Pershing Square Holdings would complete the purchase instead.[111]. Is Universal Music Worth $29 Billion? Tim Ingham is the founder and publisher ofMusic Business Worldwide, which has serviced the global industry with news, analysis, and jobs since 2015. In a research note issued last month, Kerven pointed out that he had long maintained UMGs value was higher than 40 billion, but that he was now ready to go one further. Cost of revenues, consisting of artist and production costs, increased by 17.6% to 4,608 million in 2021, reflecting higher revenues and revenue mix. Furthermore, on December 19, 2017, UMG signed a multi-year licensing agreement with YouTube.[88]. 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. [68] Barry Weiss, who previously moved from Sony Music to lead Island Def Jam Music in 2012 when Motown Records was incorporated into Island Def Jam, stepped down from Universal Music. In the interest of balance, there is a more bearish case to be made on Universals valuation today. 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. Last year as part of the UK streaming inquiry pop songwriter Fiona Bevan said shed earned only 100 from writing a song for a 2020 Number 1 album. And its all down to Spotifys market cap, which currently stands at $51.8 billion. UMG Executive Vice President Michele Anthony and Universal Music Publishing Group Chairman and CEO Jody Gerson have oversight of the pair. Q1 2022 Results: May 3, 2022 Most on Wall Street had pegged the value of. The company has seen a rise in its net worth which was at $22 billion in 2017 since Lucian took over leadership. [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. Ad-supported streaming was particularly strong, due to the ongoing improvement in ad-based monetization and new and enhanced deals in social media. This non-cash share-based compensation amounted to 45 million. [104] The deal is expected to be of $3.36 billion. Subscribe. 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. All Rights reserved. The Beatles catalogue was transferred to UMG's newly formed Calderstone Productions, while Williams' catalogue was transferred to Island Records. PGA TOUR stats, video, photos, results, and career highlights. 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. 7 Universal Music Group Intern Salaries Universal Music GmbH, the German subsidiary, is headquartered in Berlin. Metro Boomin. [89] With the addition of Japan, UMG distributes releases from Disney Music Group globally. malinda youtube 5. [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. 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,.