Subscribe. [83], In November 2017, USC Annenberg announced UMG's partnership in the "Annenberg Inclusion Initiative", becoming the first music company to do so. In 2021, Universal Music Group generated 8.5 billion euros in revenue, up from 7.43 billion in the previous year. 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. See Bruce Resnikoff's compensation, career history, education, & memberships. Erika Begun investorrelations@umusic.com, Upcoming Calendar During 2021, EBITDA and EBITDA margin were impacted by certain one-time expenses, which amounted to 102 million and included professional fees, listing fees and non-cash share-based compensation expenses. . - Dallas-Fort Worth, TX Area - Dallas, TX - Houston, TX Area - Missouri City, TX - Houston, TX . Richard Rosenblatt Net Worth. [39] IMPALA opposed the merger. Operating profit improved 14.6%, or 15.4% in constant currency, to 1,399 million in 2021 driven by the growth in revenues. A big part of that is, obviously, the omission of live concerts, plus the relative quiet of the major record companies. Universal Music Group Company Stats Industry Business Services & Supplies Founded 1995 Headquarters Hilversum Country Netherlands Chief Executive Officer Lucian C. Grainge Employees 9,505. He formerly served as COO of Columbia Records. [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. By. EBITDA margin is EBITDA divided by revenue. Universal's take of Geiger's "conservatively" projected industry total of $74 billion a decade from now, based on the label's 40% market share, comes in just shy of $30 billion. Although UMG believes that such forward-looking statements are based on reasonable assumptions, they are not guarantees of future performance. [124] Company's legal headquarters are in the Netherlands. [46] In November 2012, Steve Barnett was appointed chairman and CEO of Capitol Music Group. 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. . Head here to find out how our free music distribution can get your music heard. 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. PGA TOUR stats, video, photos, results, and career highlights. No wonder the worlds biggest music rights companies saw bottom-line profits soar in 2020; their spending presumably decreased. Vivendi said Wednesday that Universal Music Group will get a new chief executive this year. 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,. 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. UMG Drops German Band With Neo-Nazi Affiliations The 2021 annual report has not yet been published and an auditors opinion has not yet been issued. malinda youtube 5. [115], In January 2023, Sherry Lansing was named the Chairman of Board of Directors of the Universal Music Group in 2023. [36] With Grainge's appointment as CEO at UMG, Max Hole was promoted to COO of UMGI, effective July 1, 2010. 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. [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. 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 [87] Sony and Warner signed similar contracts with Facebook the following year. 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 Show Me What You Got Kindle Edition. He has a net worth of $810 million, which . 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. [148], Howard King filed a lawsuit in Los Angeles on June 21, 2019, on behalf of Soundgarden, Hole, Steve Earle, the estate of Tupac Shakur and a former wife of Tom Petty that seeks class action status for artists whose master recordings were believed to have been destroyed in the Universal Studios fire. A link to the live audio webcast will be available oninvestors.universalmusic.comand a link to the replay will be available after the call. [121] Universal Music Latin Entertainment is also headquartered in Hollywood. Image Credit: Universal Music Group UMG boss Lucian Grainge is due a $201 million payday - more than the total income of all UK songwriters and composers put together. The music icon & global superstar drops new single "Kant Nobody" feat. 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. 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 company previously said that UMG . She has also been featured in an original music video on. 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. 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. 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. 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). Subscribe. Get news from your favorite artists before everyone else. Taylor Swift is one of the many hit artists signed to Universal Music's umbrella. MALINDA Produced by Johnny DelToro & Hannah Tobias Release Date January 11, 2019 View All Credits 1 The Ultimate YouTuber Love Song Lyrics [Verse 1] I can't focus on what needs to get done I'm. Melinda pettit and isaac married. Net cash provided by operating activities before income tax paid improved to 1,395 million compared to 1,133 million in 2020, an increase of 23.1%, mainly as a result of the growth in EBITDA and lower royalty advance payments, net of recoupments in 2021 compared to 2020. 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. UMG boss Lucian Grainge is due a $201 million payday more than the total income of all UK songwriters and composers put together. Subscribe. [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. We exist to shape culture through the power of artistry. While UMG's net income was down to 886 million euros ($1.05 billion), or 0.49 euros (58 cents) per diluted . Universals labels are now signing more generous deals with superstar artists like Taylor Swiftthan ever before. [We] have suggested a blue sky valuation of 100 billion, wrote Kerven of UMG. [157] Megaupload dismissed its case against UMG in January 2012. Universal Music Group's CEO Score Ranks 2nd. Yet the entire global record business earned $11.4 billion from streaming in 2019. 27 would focus on musicians at the age of 27, an age at which several iconic musicians died. Is Universal Music Worth $29 Billion? The MBW Review is supported by FUGA. Grainge later replaced him as chairman on March 9, 2011. Merchandising and Other EBITDA margin declined by 2.8pp year-over-year to 4.4% of revenues due to higher artist costs and a shift in revenue mix towards lower-margin touring-related revenue. 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. 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. We are a community of entrepreneurs committed to creativity and innovation. 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. [48] Two months later, BMG acquired Sanctuary Records for 50 million ($58 million). Related Stories 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. We own and operate a broad array of businesses engaged in recorded music, music publishing, merchandising, and audiovisual content in more than 60 countries. Music Publishing revenue amounted to 1,335 million in 2021, up 12.6% year-over-year, or 15.0% in constant currency. 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. 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. Note: % YoY indicates % change year-over-year; % const. Universal Music Group has officially gone public on the Euronext Amsterdam with a valuation north of $50 billion. To name a few future risk factors for the company: 1. "[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. Popular. . 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?) [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. The company represents artists such as Justin Bieber, Lady Gaga, and Kanye West, and has partnered with retailers including Barneys, Bloomingdale's and Selfridges. [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. Bruno lives in a lavish mansion thanks to his . The music business is kind of bored. 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. [101], UMG was named to Fast Company's annual list of the World's 50 Most Innovative Companies for 2019, the first major music company to be included on the list in a decade. Taylor, Darren Rodney (PDF, 154KB) Death in custody, natural causes. October 8, 2021 5:08 AM ET. Universal chairman and CEO Lucian Grainge will also get bonuses linked to the listing that, according to Reuters, could add up to as much as $400 million. Taylor Swift. James Murtagh-Hopkins communicationsnl@umusic.com, Investors 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. Were an independent distributor working with unsigned artists to put their music online for free. ", "Analysis: BMG Poised to Become a Top Indie Catalog Following Sanctuary Acquisition", "Warner Music Group Buys EMI Assets for $765 Million", "Warner to buy the Parlophone Label Group", "Universal Music Sells Now! [13][14] UMG was named by Forbes as one of America's Best Midsize Employers in 2019. Universal, of course, recently laid down the hammer on this narrative by buying Bob Dylans song catalog for as much as $400 million. 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. To calculate EBITDA, the accounting impact of the following items is excluded from the income from Operating Profit: Adjusted EBITDA and Adjusted EBITDA margin. [113], On May 31, 2022, Universal Music Group announced Baa1/BBB long-term credit ratings from Moody's and S&P. estimated UMG might be worth somewhere between $29 billion and $42 billion. Bachelor of Arts (BA), Communication Avg. Universal, which is the largest. 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 . Thank you for registering! 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. Once again, though, Daniel Kerven has trumped all-comers. Whereas his annual yearly salary and his monthly salary are not publicly known. EBITDA for the quarter declined 4.2% year-over-year, or 6.8% in constant currency, to 438 million, as a one-time non-cash compensation charge more than offset the benefit of revenue growth. Universal needs its stars for two of its upcoming initiatives. Kent Ray Taylor is an American businessman and entrepreneur with a net worth of $2. Disclamer: Universal Music Publishing Group net worth displayed here are calculated based on a combination social factors. 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). David Massey and Bartels, who worked respectively at Island and Def Jam Records, were named to the new record labels independently. Universal Music Group boss Lucian Grainge is set to earn more in 2021 than all songwriters did combined from streams & sales of their music in the UK in 2019. Please only use it for a guidance and Universal Music Group's actual income may vary a lot from the dollar amount shown above. This press release may contain statements that constitute forward-looking statements with respect to UMGs financial condition, results of operations, business, strategy and plans. [135][136][137] In April 2016, UMG had the audio muted of a video clip showing Katherine Jenkins singing the British national anthem. UMG chairman & CEO Lucian Grainge is based at the company's Santa Monica offices. [96], On November 19, 2018, singer-songwriter Taylor Swift signed a new multi-album deal with UMG, in the United States, her future releases will be promoted under the Republic Records imprint. In addition to strong performance in streaming, we drove new areas of opportunity for our artists ranging from merchandise to brand management, sponsorship, ecommerce, and film & television. In July 2018, JPMorgan said that UMG could be worth as much as $40 billion and then increased the valuation to $50 billion in 2019. Malinda Kathleen Reese's Net Worth. Thats equivalent to nearly $120 billion, and three times the valuation cemented by the Tencent consortium stake sale. 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. 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 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. 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. The 500 Greatest Songs of All Time The core values that comprise Universal Music Group are Authenticity, Boldness, Creativity, Connection, Drive and Insight. 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. pre-order now. ; Asturianu; ; ; () ; Catal; Cebuano; etina Subscribe 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. Pay ranges for employees at Universal Music Group by degree. indicates % change year-over-year adjusted for constant currency. [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. UMG's first major film production was Amy, which won an Oscar for Best Documentary,[69] while taking part in Kurt Cobain: Montage of Heck and The Beatles: Eight Days a Week documentaries. The 100 Greatest TV Shows of All Time The Guardian pointed out that Grainges bonus comes from Universal Musics 2021 IPO as well as Tencent buying a 10% stake in the company. [90] That same month, Vivendi announced it would explore selling as much as half of Universal Music Group to one or more investors. He writes a regular column for Rolling Stone. [50][51] Later in February, Sony Music Entertainment acquired UMG's European share in Now That's What I Call Music for approximately $60million. [89] With the addition of Japan, UMG distributes releases from Disney Music Group globally. [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. 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. 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. [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. [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. 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. 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). The company paid $12million to the state in settlement. No wonder Som Livre, Brazils biggest domestic label, is believed to be close to selling up for around $300 million. $49 Billion? Even $100 Billion? Richard Rosenblatt (born 1969) is a serial entrepreneur as well as the Co Founder, Chairman and CEO of Demand Media. However, it also spent 2.5bn on catalogue acquisitions and artist advances during the year, including re-signing stars such as. Some think Tencent got an absolute bargain. 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. Required fields are marked *. 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. 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. Recorded Music EBITDA margin improved by 0.9pp to 23.7% from 22.8% in 2020 due to operating leverage. [57], On March 20, 2013, UMG announced the worldwide extension of their exclusive distribution deal with the Disney Music Group, excluding Japan. Most on Wall Street had pegged the value of. [28][29], In June 2007, UMG acquired Sanctuary, which eventually became UMG's entertainment merchandising and brand management division, Bravado. And its all down to Spotifys market cap, which currently stands at $51.8 billion. . Music Publishing EBITDA of 307 million was up 14.1% year-over-year, or 16.3% in constant currency. 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. The initiative is meant to create change for representation of women and underrepresented racial and ethnic groups in the media industry. [103], In August 2019, Tencent and Vivendi started negotiation to sell 10% Vivendi's stake of Universal Music to Tencent. [65], In September 2013, UMG received a SAG-AFTRA American Scene Award for the company's commitment to diversity as exemplified by its "entire catalog and roster of artists. 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. Top sellers in the prior year included The Weeknd, Billie Eilish, Post Malone, Lil Baby, Pop Smoke and BTS. The financial information included in this press release is unaudited. 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.