universal music group ceo net worth

Head here to find out how our free music distribution can get your music heard. Is Universal Music Worth $29 Billion? $49 Billion? Even $100 Billion? 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. This came two months after the separation of Warner Music Group from Time Warner. In 2020, Tencent acquired 20% stake in the label. 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. Universal Music Group Company Stats Industry Business Services & Supplies Founded 1995 Headquarters Hilversum Country Netherlands Chief Executive Officer Lucian C. Grainge Employees 9,505. Malinda YoutubeToday, Malinda estimates her recovery at about 75 Universal Music 2020 Earnings: Profit Margins Up - Billboard Show Me What Youve Got GIFs. 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. UMG believes that an understanding of its sales performance, profitability, financial strength and funding requirements is enhanced by reporting the following non-IFRS measures. [113], On May 31, 2022, Universal Music Group announced Baa1/BBB long-term credit ratings from Moody's and S&P. Artist/songwriter agreements with music publishers today expire with relative regularity. 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. Universal Music Group - Wikipedia 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. 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?) 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. Universal Music Group Valued at $53 Billion in New Goldman - Variety Could Universal Music Group really be worth more than $40bn? The 500 Greatest Songs of All Time Show Me What You Ve GotWe service desk managers are already at a [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". Island Records MySpace Music Completes Acquisition Of iMeem", "Recordings by Elton John, Nirvana and Thousands More Lost in Fire", "Universal Music Disputes Severity of 2008 Fire Cited in New York Times Article", "Hole Say They Were Never Told About Lost Recordings in Warehouse Fire", "Musicians Mourn the Fiery Destruction of Their Recordings: 'I Think They Are Gone Forever', "Nirvana's Krist Novoselic believes Nevermind masters lost in Universal fire", "Eminem Master Tapes Were Digitally Backed Up Just Months Before Universal Fire: Report", "Universal Music Group Archivist: Vault Fire Damage 'Surprisingly Overstated,' But Any Loss Is 'Painful for Us', "Artists Sue Universal Music Group Over Losses in 2008 Fire", "A Universal Music Fire Case Could Break New Legal Ground", RIAA Label Artists & A-List Stars Endorse Megaupload In New Song, Universal Censors Megaupload Song, Gets Branded a "Rogue Label", Megaupload threatens to sue Universal over YouTube video, Megaupload to Sue Universal, Joins Fight Against SOPA, UMG claims "right to block or remove" YouTube videos it doesn't own, File-Sharing Company Sues Record Label, for a Change, UMG, MegaUpload Case Gets Even Stranger; Will.i.am Says He Didn't Authorize A Takedown, "Megaupload Drops Lawsuit Against Universal Music Over Viral Video (Exclusive)", "Music Industry Opposes Copyright Termination; What is it? Operating profit includes certain non-cash items that are adjusted to get to the Net cash provided by operating activities as follows: In this press release, UMG presents certain financial measures when discussing UMGs performance that are not measures of financial performance or liquidity under IFRS (non-IFRS). [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. With this new audio standard, UMG allows its artists to base their song approval process on how the final mix sounds in a MercedesBenz and introduced the Approved in a MercedesBenz label as a standard. Pay ranges for employees at Universal Music Group by degree. 7 Universal Music Group Intern Salaries [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. © 2023 RouteNote Blog. 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). UMG's corporate headquarters are located in Hilversum, Netherlands and its operational headquarters are located in Santa Monica, California. 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. ; Asturianu; ; ; () ; Catal; Cebuano; etina Subscribe 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. The descriptions of these alternative performance indicators and reconciliations of non-IFRS to IFRS measures are included in the Appendix to this press release. 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. is in an oddly inert place right now. [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. [42], On September 21, 2012, the sale of EMI to UMG was approved in the European Union and the United States by the European Commission and Federal Trade Commission respectively. [68], Universal Music Group entered into film and TV production with the 2014 purchase of Eagle Rock Entertainment. Universals labels are now signing more generous deals with superstar artists like Taylor Swiftthan ever before. Q1 2022 Results: May 3, 2022 Grainge earns an annual salary of over $10 million as the chairman and Chief executive officer of Universal Music Group 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 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. [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. And we expanded our partner portfolio into emerging growth areas such as health and fitness, Web3 and social video. Universal Music Group CEO and chairman Sir Lucian Grainge has a good shot at topping any music-industry power list in 2019. The difference between EBITDA and Adjusted EBITDA consists of non-cash share-based compensation expenses and certain one-time items that are deemed by management to be significant and incidental to normal business activity, including but not limited to professional fees and listing fees related to UMGs listing on the Euronext Amsterdam. All rights reserved. [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. Taylor Swift Generated $230 Million In Revenue For Universal Music Subscribe. [9] DMX. [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. What Is Universal Music Group Worth? - AudiobyRay "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. But with annual costs of around $2 billion, Spotify is currently operating at close to break-even. Universal Music Group's CEO Score Ranks 2nd. 19, 2021. "[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. Actual results may differ materially from such forward-looking statements as a result of a number of risks and uncertainties, many of which are related to factors that are outside UMGs control, including, but not limited to, UMGs inability to compete successfully and to identify, attract, sign and retain successful recording artists and songwriters, failure of streaming and subscription adoption or revenue to grow or to grow less rapidly than anticipated, UMGs reliance on digital service providers, UMGs inability to execute its business strategy, the global nature of UMGs operations, UMGs inability to protect its intellectual property and against piracy, UMGs inability to attract and retain key personnel, changes in laws and regulations and the other risks that will be described in the annual report. [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. Monte Lipman - Founder & Chi.. - Universal Music Group | ZoomInfo In February 2006, Vivendi (which own UMG since 2000) purchased the remaining 20 percent of UMG from Matsushita Electric. [55][56] Edel AG acquired the MPS catalogue from Universal in January 2014. SIGN UP TO THE NEWSLETTER BELOW, USING YOUR SOCIAL ACCOUNT OR EMAIL. In June 2018, Universal Music Japan announced an exclusive license agreement with Disney Music Group. Related Stories Subscribe. 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. Who Owns Universal Music Group? Here's a Quick Overview Taylor Swift is one of the many hit artists signed to Universal Music's umbrella. 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 Perhaps, though, this is the calm before the storm. Universal Music Group operates a secondary office in Woodland Hills that includes finance, royalty, and operations functions.[122]. UMG is also ranked number 1 in the music category. . In the interest of balance, there is a more bearish case to be made on Universals valuation today. Universal Music Group | Company Overview & News Read More Universal Music Group N.V. Corporate Headquarters - Hilversum, Netherlands This, he said, was due to UMGs undermonetized, must-have, global content that is strategic to the tech giants and cant be replicated. Kerven was notably more bullish on UMG than other analysts at the time, including Morgan Stanley, who estimated UMG might be worth somewhere between $29 billion and $42 billion. Thank you for registering! Universal Music Group N.V. (UMG.AS) - Ca.finance.yahoo.com Vivendi says this qualified as the minimum target valuation it needed to trigger thoughts of going public in Amsterdam. "[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 boss Lucian Grainge is due a $201 million payday more than the total income of all UK songwriters and composers put together. Vivendi said Wednesday that Universal Music Group will get a new chief executive this year. A 29bn valuation would actually make Universal Music Group - led by CEO & Chairman Sir Lucian Grainge (pictured) - worth more than its owner, Vivendi. Universal Music Group's shares surged by more than a third in its stock market debut on Tuesday, putting its chairman and chief executive, Sir Lucian Grainge, in line for a potential bonus of . [57], On March 20, 2013, UMG announced the worldwide extension of their exclusive distribution deal with the Disney Music Group, excluding Japan. [44][45], Universal Music Group completed their acquisition of EMI on September 28, 2012. Does Universal Studios own Universal Music Group? 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. The 100 Best Albums of 2022. Should Marilyn Manson and R. Kelly Be Banned? Capitol Music Group is headquartered at the Capitol Records Building in Hollywood. Morgan Wallen. Lets Break Down the Mind-Blowing Money in Universal Musics IPO. [106], The company and Lego Group announced a music product partnership on April 26, 2020. 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. Ken Hao Net WorthAs of October 2022, His net worth, on the other hand Universal Music Group has officially gone public on the Euronext Amsterdam with a valuation north of $50 billion. Average Universal Music Group Salary | PayScale 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. UMG's 2020 revenue by operation: Recorded music grew 5.9% to 5.97 euros billion ($6.74 billion) from 2019's 5.63 billion euros ($6.33 billion) Music publishing grew 12.7% to nearly 1.19 billion. The initiative is meant to create change for representation of women and underrepresented racial and ethnic groups in the media industry. Required fields are marked *. The stars boost music investments and global expansion. The 100 Greatest TV Shows of All Time Inside Universal, Sony, and Warner's Arms Race For Your Attention Universal Music Group N.V. Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2021. Notably, in the fourth quarter of 2020, EBITDA, Adjusted EBITDA, EBITDA margin and Adjusted EBITDA margin benefited from a 28 million exceptional recovery of an advance provision related to a label acquisition, which was the primary driver of the year-over-year decline in margin. 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. Brandi Carlile Net Worth 2021Wynonna Judd will continue the Judds [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. We own and operate a broad array of businesses engaged in recorded music, music publishing, merchandising, and audiovisual content in more than 60 countries. 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. [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. No wonder the worlds biggest music rights companies saw bottom-line profits soar in 2020; their spending presumably decreased. [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. 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 [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. [13][14] UMG was named by Forbes as one of America's Best Midsize Employers in 2019. Sir Lucian Grainge, UMGs Chairman and CEO, said, 2021 was yet another historic year for UMG. And its all down to Spotifys market cap, which currently stands at $51.8 billion. [53] With EMI's absorption into Universal Music complete, its British operations consist of five label units: Island, Polydor, Decca, Virgin EMI and Capitol. Downloads and other digital revenue were flat, but declined 3.3% in constant currency, as download sales continue their industry-wide decline. 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. 59 Employees at Universal Music Group rate Lucian Grainge a 75 out of 100, which ranks them 2nd below Salem Media Group's CEO, David Santrella. Universal Music Group Intern Reviews | Glassdoor Annual General Meeting of Shareholders: May 12, 2022. 100% Approve of CEO. All Rights reserved. 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 . 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. Megaupload said that the video contained no infringing content, commenting: "we have signed agreements with every featured artist for this campaign". Starting in 2011 UMG's Interscope Geffen A&M Records began signing contestants from American Idol. This press release may contain statements that constitute forward-looking statements with respect to UMGs financial condition, results of operations, business, strategy and plans. Although UMG believes that such forward-looking statements are based on reasonable assumptions, they are not guarantees of future performance. 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. Yet the entire global record business earned $11.4 billion from streaming in 2019. [128], On March 8, 2022, UMG suspended all its operations in Russia, following the country's invasion of the Ukraine. UMG retained The Beatles (formerly of Parlophone) and Robbie Williams (formerly of Chrysalis). The company has seen a rise in its net worth which was at $22 billion in 2017 since Lucian took over leadership. To name a few future risk factors for the company: 1. Going forward, we see the industry continuing to grow and with our unique experience, our deep understanding of the business and the vast artist relationships and global creative networks we expect to further strengthen our position as the industry leader as we continue to break new artists and build on our world-class catalogue., We are generating robust Free cash flow even as we continue to opportunistically and selectively invest in artists and catalogues that will be additive to the long-term health of our business, said Boyd Muir, EVP, CFO and President of Operations for UMG. 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. Please only use it for a guidance and Universal Music Group's actual income may vary a lot from the dollar amount shown above. [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. The Guardian pointed out that Grainges bonus comes from Universal Musics 2021 IPO as well as Tencent buying a 10% stake in the company. Richard Rosenblatt Net Worth. Now thats music to Universals and its prospective investors ears. announced they would investigate the effects the fire may have had on the band's archival materials, while Hole, Steely Dan, Rosanne Cash and Geoff Downes made statements on their possible losses from the fire. 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.

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