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. indicates % change year-over-year adjusted for constant currency. Universal Music Group Valued at About $39B Ahead of Listing [156] Lawyers for will.i.am initially claimed that he had never agreed to the project, and on December 12, he denied any involvement in the takedown notice. 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. The descriptions of these alternative performance indicators and reconciliations of non-IFRS to IFRS measures are included in the Appendix to this press release. Universal Music Group History: Founding, Timeline, and Milestones Net debt, defined as total debt minus cash and equivalents, at the end of 2021 was 2,010 million compared to 1,868 million at the end of 2020. Music Publishing EBITDA of 307 million was up 14.1% year-over-year, or 16.3% in constant currency. Adjusted EBITDA margin is Adjusted EBITDA divided by revenue. 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. 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. Some think Tencent got an absolute bargain. [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. This dividend proposal is subject to approval by the Annual General Meeting of Shareholders to be held on Thursday, 12 May 2022. [145] Representatives for R.E.M. And we expanded our partner portfolio into emerging growth areas such as health and fitness, Web3 and social video. Universal Music Group N.V. Reports Financial Results for the - UMG No wonder Som Livre, Brazils biggest domestic label, is believed to be close to selling up for around $300 million. Sir Lucian Grainge, UMGs Chairman and CEO, said, 2021 was yet another historic year for UMG. [44][45], Universal Music Group completed their acquisition of EMI on September 28, 2012. EBITDA and Adjusted EBITDA margin were also impacted by revenue mix, as revenues were more heavily weighted towards merchandising revenues and music publishing revenues in the fourth quarter of 2021 compared to the prior-year quarter, which carry a lower EBITDA margin than streaming and subscription revenues. Universal Music Japan is headquartered in Shibuya, Tokyo. 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 [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. We are Universal Music Group, the world's leading music company. David Massey and Bartels, who worked respectively at Island and Def Jam Records, were named to the new record labels independently. Average Universal Music Group Salary | PayScale estimated UMG might be worth somewhere between $29 billion and $42 billion. Unaudited Consolidated Statement of Profit and Loss, Unaudited Consolidated Statement of Cash Flows, Non-IFRS Alternative Performance Indicators and Reconciliations, Reconciliation of Operating Profit to EBITDA, Reconciliation of EBITDA to Adjusted EBITDA, Reconciliation of net profit attributable to equity holders of the parent to Adjusted net profit, Reconciliation of net cash provided by/(used for) operating activities to Free Cash Flow. [59], On April 2, 2013, the gospel music divisions of Motown Records and EMI merged to form a new label called Motown Gospel. Megaupload said that the video contained no infringing content, commenting: "we have signed agreements with every featured artist for this campaign". 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. 7 Universal Music Group Intern Salaries A free inside look at company reviews and salaries posted anonymously by employees. Universal Music Publishing is also headquartered in the city. Thats more than the estimated combined 2019 streams, sales and downloads of all the songwriters in the UK. [102], In June, YouTube and UMG announced that they were upgrading more than 1,000 popular music videos to high definition, releasing them through 2020. UMG CEO Lucian Grainge to Earn Over $200 MM in 2021 Following IPO 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. 3. [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. 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. The CEO of Universal Music earned more in 2021 than all the sales and 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. [36] With Grainge's appointment as CEO at UMG, Max Hole was promoted to COO of UMGI, effective July 1, 2010. Last rating was a day ago. 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. A $65 million bonus will push Universal Music Group CEO Lucian Granges 2021 income up to $201 million. 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 this execs words: If Spotify investors expect a standard 7% yield from their investment [as per that market cap], they would also expect the company to be generating $3.6 billion in annual profits. 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. For example, in 2010, Universal Music Group CEO Lucian Grainge stepped down from his role and was replaced by Doug Morris, who had previously worked for Disney. UMG believes that an understanding of its sales performance, profitability, financial strength and funding requirements is enhanced by reporting the following non-IFRS measures. Universal Music Group CEO and chairman Sir Lucian Grainge has a good shot at topping any music-industry power list in 2019. Join the Universal Music Group team See Our Latest Jobs 3.0 Former Employee Good experience but too big of a company Feb 23, 2023 - Senior Director, Marketing in Los Angeles, CA Recommend CEO Approval Business Outlook Pros Benefits Opportunity for various experience & connections Cons [74] That same year, Paul McCartney and the Bee Gees both signed to UMG's Capitol Records, including their catalog releases. "[68] Island Records and Def Jam now operate as autonomous record labels. Vivendi said Wednesday that Universal Music Group will get a new chief executive this year. 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. 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. The descriptions of these alternative performance indicators and reconciliations of non-IFRS to IFRS measures are included in the Appendix to this press release. 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. [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. A big part of that is, obviously, the omission of live concerts, plus the relative quiet of the major record companies. "[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. [151] The music video was also uploaded to YouTube, but was removed following a takedown request by UMG. [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. Pershing Square Holdings held 10% of UMG shares. 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. That acquisition gave UMG a 30 billion ($36 billion) enterprise value as recently as January. Universal Music Group's largest corporate shareholder, Tencent, is headquartered in Shenzhen, China. Related Stories 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. 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. The Five Most Powerful People in the Music Industry Don - Rolling Stone Bruno lives in a lavish mansion thanks to his . 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. [104] The deal is expected to be of $3.36 billion. Vivendi distributed 60% of its UMG shares and retaining 10%. 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. 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 Bruce Resnikoff is President/CEO at Universal Music Enterprises. More Importantly, Who Should Do It? 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. SIGN UP TO THE NEWSLETTER BELOW, USING YOUR SOCIAL ACCOUNT OR EMAIL. [10] Pershing Square Holdings later acquired ten percent of UMG prior to its IPO on the Euronext Amsterdam stock exchange. Most on Wall Street had pegged the value of. Note: % YoY indicates % change year-over-year; % const. 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. Tencent emerged as UMG's biggest corporate shareholder with 20% of shares. By. [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. 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. In its IPO, UMG hits 54 billion ($62.6 billion) valuation which is over a third bigger than initial valuation. UMG considers Adjusted EBITDA and Adjusted EBITDA margin, non-IFRS measures, to be relevant measures to assess performance of its operating activities excluding items that may be incidental to normal business activity. [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. 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. UMG is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising and audiovisual content. The 2021 financial information included in this press release contains only part of the 2021 financial statements which still have to be adopted by the shareholders at the upcoming annual general meeting of shareholders and will be included in the 2021 annual report. Found 92 of over 1K reviews. [We] have suggested a blue sky valuation of 100 billion, wrote Kerven of UMG. Universal Music Group - Overview, News & Competitors - ZoomInfo Lucian Grainge - Wikipedia 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). 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. Free Cash Flow, as we calculate it, may not be comparable to similarly titled measures employed by other companies. 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. 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. 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. Dr. Dre Nearing Deal to Sell Music Rights. Lucian Grainge Bio, Wife, Career, Net Worth, Height, Weight, Child Universal Music Group's Universal Music Polska is located in Warsaw. However, it also spent 2.5bn on catalogue acquisitions and artist advances during the year, including re-signing stars such as. Read More Universal Music Group N.V. Corporate Headquarters - Hilversum, Netherlands 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. The increase in Adjusted net profit was driven by the growth in EBITDA. Inside Universal, Sony, and Warner's Arms Race For Your Attention The same day, UMG announced launch of its new affiliates in Morocco and Israel. [114], In October 2022, Mercedes-Benz launched a new in-car audio collaboration with Apple Music and Universal Music Group. Although UMG believes that such forward-looking statements are based on reasonable assumptions, they are not guarantees of future performance. [107], On June 16, 2020, Universal rebranded Virgin EMI Records as EMI Records and named Rebecca Allen (former president of UMG's Decca label) as the label's president,[108] bringing back the EMI brand. [138], In December 2007, UMG announced a deal with Imeem which allows users of the social network to listen to any track from Universal's catalogue for free with a portion of the advertising generated by the music being shared with the record label. 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. Moreover, he is earning from his career as a chairman and chief executive officer of Universal Music Group. The Beatles catalogue was transferred to UMG's newly formed Calderstone Productions, while Williams' catalogue was transferred to Island Records. Head here to find out how our free music distribution can get your music heard. In June 2018, Universal Music Japan announced an exclusive license agreement with Disney Music Group. 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. [100] In February 2019, UMG fully acquired music distributor INgrooves. [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]. Send us a tip using our anonymous form. Salary $49k $96k Associate of Science (AS), Recording Arts Avg. 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. Please only use it for a guidance and Universal Music Publishing Group's actual income may vary a lot from the dollar amount shown above. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Sign up to our newsletter and make sure you don't miss a thing! The initiative is meant to create change for representation of women and underrepresented racial and ethnic groups in the media industry. "[155] The video was subsequently returned to YouTube, with the reasons for the UMG takedown remaining unclear. [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. 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. If approved by shareholders, this would bring UMGs total dividend for 2021 to 725 million, or 0.40 per share. [28][29], In June 2007, UMG acquired Sanctuary, which eventually became UMG's entertainment merchandising and brand management division, Bravado. Subscribe. A Are Universal Music Group internships paid? Subscribe. 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. To calculate EBITDA, the accounting impact of the following items is excluded from the income from Operating Profit: Adjusted EBITDA and Adjusted EBITDA margin. Universal Music 2020 Earnings: Profit Margins Up - Billboard For more information on Universal Music Group N.V. visitwww.universalmusic.com, Media For more information on how Universal Music Group for Brands can create authentic connections for your brand, please contact us here. Net cash provided by/(used for) operating activities Adjustments The accounting impact of the following items is excluded from Net profit attributable to equity holders of the parent: UMG considers financial net debt, a non-IFRS measure, to be a relevant indicator of the groups liquidity and capital resources. (Paris-based Vivendi is currently sitting at around a 28bn market cap on the stock exchange in Europe.) 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. ; Asturianu; ; ; () ; Catal; Cebuano; etina 19, 2021. [38] Among the other companies that had competed for the recorded music business was Warner Music Group which was reported to have made a $2billion bid. [124], Universal Music Group Global (formerly known as Universal Music Group International (UMGI)) operates offices in London.[125]. Annual General Meeting of Shareholders: May 12, 2022. Dont be shocked to see a major music company swoop. Revenue for the fourth quarter of 2021 was 2,520 million, an increase of 19.0% year-over-year, or 16.0% in constant currency. Subscribe. The 200 Greatest Singers of All Time No wonder the worlds biggest music rights companies saw bottom-line profits soar in 2020; their spending presumably decreased. 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. Apr 8, 2022. 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. UMG retained The Beatles (formerly of Parlophone) and Robbie Williams (formerly of Chrysalis). Universal Music GmbH, the German subsidiary, is headquartered in Berlin. 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. Universal Music Group CEO Lucian Grainge on Wednesday lamented the increasing use of short, low-quality music clips on streaming music platforms, saying they undermine the experience of. Universal Music Group | Company Overview & News 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.

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