universal music group ceo net worth

Grainge became the chairman of the UK division of the Universal Music Group, and then in 2005 of Universal Music Group International. Show us what you've . Lets Break Down the Mind-Blowing Money in Universal Musics IPO. [135][136][137] In April 2016, UMG had the audio muted of a video clip showing Katherine Jenkins singing the British national anthem. The Consolidated financial statements have been prepared in accordance with IFRS issued by the International Accounting Standards Board as endorsed by the EU and comply with the statutory provisions of Part 9, Book 2 of the Dutch Civil Code. [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. Adjusted Net Profit/Adjusted Net Profit per share. [151] The music video was also uploaded to YouTube, but was removed following a takedown request by UMG. The 2021 annual report has not yet been published and an auditors opinion has not yet been issued. [9] Downloads and other digital revenue were flat, but declined 3.3% in constant currency, as download sales continue their industry-wide decline. [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. Grainge earns an annual salary of over $10 million as the chairman and Chief executive officer of Universal Music Group [55][56] Edel AG acquired the MPS catalogue from Universal in January 2014. 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. Universal Music Group Company Stats Industry Business Services & Supplies Founded 1995 Headquarters Hilversum Country Netherlands Chief Executive Officer Lucian C. Grainge Employees 9,505. 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. [58] The exclusive deal also saw UMG granted unlimited access to all rights pertaining to Disney's 85-year back catalog of soundtracks and albums. 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. [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. Universal Music Group has officially gone public on the Euronext Amsterdam with a valuation north of $50 billion. Perhaps, though, this is the calm before the storm. [4][5] The biggest music company in the world,[6] it is one of the "Big Three" record labels, along with Sony Music and Warner Music Group. Sort. [132], In May 2006, an investigation led by then New York Attorney General, Eliot Spitzer, concluded with a determination that Universal Music Group bribed radio stations to play songs from Ashlee Simpson, Brian McKnight, Big Tymers, Nick Lachey, Lindsay Lohan and other performers under Universal labels. Revenues benefited from the continued growth in subscription and streaming, an improvement in synchronization income and from the benefit of catalogue acquisitions. Tencent emerged as UMG's biggest corporate shareholder with 20% of shares. Richard Rosenblatt Net Worth. 99%. Subscribe. [10] Pershing Square Holdings later acquired ten percent of UMG prior to its IPO on the Euronext Amsterdam stock exchange. Outside of the churn of big-money catalog acquisitions and enthusiasts wibbling on about the potential of Clubhouse and NFTs, the industry (like many of us?) Apple HomePod 2 Review: Im Confused (Video), Android 13 brings spatial audio to Google Pixel phones, with head tracking on Pixel Buds Pro, Sonos and IKEA announce a new SYMFONISK floor lamp speaker, Serato Stems: clean instrument isolation in your DJ mix, Everything you need to know as an artist on SoundCloud how to monetize your music and get unlimited uploads for free, PUSH.fm: Promote your music with free digital marketing tools, What is Qobuz and how to upload your music free, Where is iTunes in 2022? Free Cash Flow, as we calculate it, may not be comparable to similarly titled measures employed by other companies. Def Jam, Island and Republic Records also maintain offices there. $49 Billion? David Massey and Bartels, who worked respectively at Island and Def Jam Records, were named to the new record labels independently. [34], Doug Morris stepped down from his position as CEO on January 1, 2011. [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. 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 Most on Wall Street had pegged the value of. If approved by shareholders, this would bring UMGs total dividend for 2021 to 725 million, or 0.40 per share. [105], In February 2020, Vivendi announced it was planning to go public in an IPO within three years. "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. The company represents artists such as Justin Bieber, Lady Gaga, and Kanye West, and has partnered with retailers including Barneys, Bloomingdale's and Selfridges. We own and operate a broad array of businesses engaged in recorded music, music publishing, merchandising, and audiovisual content in more than 60 countries. Two years on, streaming revenues have continued to mushroom, even through a pandemic, and the valuations slapped on Universal have grown in tandem. [77][78][79], In July 2017, "Despacito" by Luis Fonsi, Daddy Yankee and featuring Justin Bieber, became the most streamed track of all time. Top sellers in the prior year included The Weeknd, Billie Eilish, Post Malone, Lil Baby, Pop Smoke and BTS. 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. [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. [114], In October 2022, Mercedes-Benz launched a new in-car audio collaboration with Apple Music and Universal Music Group. 319 Million. "[68] Island Records and Def Jam now operate as autonomous record labels. 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.. 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. [48] Two months later, BMG acquired Sanctuary Records for 50 million ($58 million). In January 2011, UMG announced it was donating 200,000 master recordings from the 1920s to 1940s to the Library of Congress for preservation. Subscribe. SIGN UP TO THE NEWSLETTER BELOW, USING YOUR SOCIAL ACCOUNT OR EMAIL. He formerly served as COO of Columbia Records. 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). [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. Read More Universal Music Group N.V. Corporate Headquarters - Hilversum, Netherlands 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. 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. 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]. Universals labels are now signing more generous deals with superstar artists like Taylor Swiftthan ever before. [28][29], In June 2007, UMG acquired Sanctuary, which eventually became UMG's entertainment merchandising and brand management division, Bravado. estimated UMG might be worth somewhere between $29 billion and $42 billion. Universal Music Group operates a secondary office in Woodland Hills that includes finance, royalty, and operations functions.[122]. 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. 3. [145] Representatives for R.E.M. We are Universal Music Group, the world's leading music company. We helped our artists achieve extraordinary success including 8 of the IFPIs top 10 global artists of the year. The stars boost music investments and global expansion. 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. [We] have suggested a blue sky valuation of 100 billion, wrote Kerven of UMG. Physical revenue showed another quarter of strong growth, increasing by 11.1% year-over-year, or 10.5% in constant currency, mainly as a result of increased vinyl demand driven by releases from Taylor Swift, ABBA and The Beatles, as well as growth in direct-to-consumer sales. UMG believes that an understanding of its sales performance, profitability, financial strength and funding requirements is enhanced by reporting the following non-IFRS measures. Artist/songwriter agreements with music publishers today expire with relative regularity. Related Stories This dividend proposal is subject to approval by the Annual General Meeting of Shareholders to be held on Thursday, 12 May 2022. The MBW Review is supported by FUGA. The estimated Net Worth of Kenneth Hao is at least $1. 4150 International Plz Fort Worth, TX 76109 8442 McDaniel Rd Fort Worth, TX 76126 PO Box 174 Strawn, TX 76475. Tencent acquired ten percent of Universal Music Group in March 2020 for 3 billion[7][8][9] and acquired an additional ten percent stake in January 2021. 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. [140], According to Jody Rosen of The New York Times, the fire which swept through Universal Studios Hollywood on June 1, 2008, caused "the biggest disaster in the history of the music business". [139] All traffic was redirected to MySpace after that company acquired Imeem on December 8, 2009. Show Me What Youve Got GIFs. And we expanded our partner portfolio into emerging growth areas such as health and fitness, Web3 and social video. To name a few future risk factors for the company: 1. 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. 19, 2021. 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! - Dallas-Fort Worth, TX Area - Dallas, TX - Houston, TX Area - Missouri City, TX - Houston, TX . [52] Play It Again Sam acquired Co-Operative Music for 500,000 in March 2013. The company went public on September 21, 2021, at a valuation of 46 billion. The core values that comprise Universal Music Group are Authenticity, Boldness, Creativity, Connection, Drive and Insight. 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. [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. James Murtagh-Hopkins [email protected], Investors 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. A big part of that is, obviously, the omission of live concerts, plus the relative quiet of the major record companies. Although UMG believes that such forward-looking statements are based on reasonable assumptions, they are not guarantees of future performance. Required fields are marked *. The 100 Greatest TV Shows of All Time Lucian Grainge Salary. 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. 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. Some think Tencent got an absolute bargain. pre-order now. [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. [103], In August 2019, Tencent and Vivendi started negotiation to sell 10% Vivendi's stake of Universal Music to Tencent. A 29bn valuation would actually make Universal Music Group - led by CEO & Chairman Sir Lucian Grainge (pictured) - worth more than its owner, Vivendi. 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. The 500 Greatest Songs of All Time Accordingly, UMG cautions readers against placing undue reliance on such forward-looking statements. Lucian Grainge will become CEO, replacing Doug Morris who will remain the company's chairman. 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 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. As for 2023, the chairman Lucian's Net Worth income is around $50 million according to some sources but it is not confirmed. Downloads and other digital revenue fell 21.5% year-over-year, or 19.4% in constant currency, on the continued industry-wide decline in download sales. Download English songs online from JioSaavn. [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. Show Me What You Got Kindle Edition. Revenues benefited from the continued growth in subscription and streaming, the timing of certain society distributions and an improvement in synchronization income. 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. Drops March 3rd. The same day, UMG announced launch of its new affiliates in Morocco and Israel. 7 Universal Music Group Intern Salaries ; Asturianu; ; ; () ; Catal; Cebuano; etina [87] Sony and Warner signed similar contracts with Facebook the following year. 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. The vault held masters for the MCA, ABC, A&M, Geffen and Interscope labels; as well as some smaller subsidiary labels. "Theres only one word for it obscene" @crispinhunt https://t.co/wayqIVhAAA Share this post if you agree (1/2) pic.twitter.com/3i7W6ZOs9P. [134] After years of litigation, the suit settled in 2018, prior to the court holding a trial on whether UMG had a subjective belief that the video was infringing and not fair to use before sending its request to YouTube. Therefore, Spotifys current valuation implies that the record industrys streaming revenues will near enough triple in the future.. 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. Megaupload said that the video contained no infringing content, commenting: "we have signed agreements with every featured artist for this campaign". 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. 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. Morgan Wallen. Universal Music Group's CEO Score Ranks 2nd. UMG retained The Beatles (formerly of Parlophone) and Robbie Williams (formerly of Chrysalis). Pay ranges for employees at Universal Music Group by degree. [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. [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. 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 However, it also spent 2.5bn on catalogue acquisitions and artist advances during the year, including re-signing stars such as. Music Publishing EBITDA of 307 million was up 14.1% year-over-year, or 16.3% in constant currency. malinda youtube 5. UMG-signed artists claimed no less than eight of the top 10. Dont be shocked to see a major music company swoop. A final decision spoiler: its going to be a big yes is due by the end of this month. Note: % YoY indicates % change year-over-year; % const. By 2018, the song had broken several Guinness World Records, including Most Weeks at Number 1 on Billboard Hot Latin Songs chart and most-viewed video online. [147] UMG archivist Patrick Kraus assured that the Impulse! In the interest of balance, there is a more bearish case to be made on Universals valuation today. [61] In July 2018, JPMorgan said that UMG could be worth as much as $40 billion[62] and then increased the valuation to $50 billion in 2019. Your email address will not be published. The biggest music company in the world, it is one of the "Big Three" record labels, along with Sony Music and Warner Music Group. 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. 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. While listeners may use the webcast, a dial-in telephone number is required for investors and analysts to ask questions. Millions of dollars. [19], In November 1990, Japanese multinational conglomerate Matsushita Electric agreed to acquire MCA for $6.59billion.

Grand Concourse, Bronx, Ny Apartments, Articles U