universal music group ceo net worth
universal music group ceo net worth
. Universal Music Group "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. Thank you for registering! Universal Music Japan is headquartered in Shibuya, Tokyo. UMG considers free cash flow, a non-IFRS measure, to be a relevant indicator of the groups cashflow generated to fund dividend payments and repayment of debt. Whether its services-type contracts or a short-term licensing deals, these agreements can see full control of copyrights return to artists within a handful of years, while more than 50% of royalties are paid to them in the meantime. Financial Net Debt is calculated as the sum of: UMG defines Free Cash Flow as net cash provided by/(used for) operating activities plus net cash provided by/(used for) investing activities, less repayment of lease liabilities, interest paid, net and other cash items related to financing activities. Universal Music Group Valued at About $39B Ahead of Listing [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. [59], On April 2, 2013, the gospel music divisions of Motown Records and EMI merged to form a new label called Motown Gospel. Could Universal Music Group really be worth more than $40bn? EBITDA margin was 17.4%, compared to 21.6% in the fourth quarter of 2020. Inside Universal, Sony, and Warner's Arms Race For Your Attention Adjusted EBITDA margin expanded 0.9pp year-over-year to 21.0% due to operating leverage, which helped to lower selling, general and administrative expenses as a share of revenue. Lucian Grainge Salary. That's 340% greater than the $6.7 billion in revenue Universal reported for 2013. 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. Net worth score. New CEO For Universal Music Group - Forbes Universal Music Group CEO calls for new streaming model ", "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! Universal Music Group's shares jump in stock market debut - New York Post Sir Lucian Grainge, UMGs Chairman and CEO, said, 2021 was yet another historic year for UMG. [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. [50][51] Later in February, Sony Music Entertainment acquired UMG's European share in Now That's What I Call Music for approximately $60million. While listeners may use the webcast, a dial-in telephone number is required for investors and analysts to ask questions. Show Me What Youve Got GIFs. [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 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. Your email address will not be published. In May 1998, Seagram purchased PolyGram[25] and merged it with Universal Music Group in early 1999. The 2021 annual report has not yet been published and an auditors opinion has not yet been issued. [35] Morris became the next chairman of Sony Music Entertainment on July 1, 2011. [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. [152] Megaupload requested an apology from UMG, and filed a lawsuit against the company in the United States District Court for the Northern District of California, on December 12, 2011. 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. The music business is kind of bored. UMGs Recorded Music, Music Publishing and Merchandising and Other segments all had strong, double-digit revenue growth, as discussed further below. Universal Music Group operates a secondary office in Woodland Hills that includes finance, royalty, and operations functions.[122]. [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. . [159][160], "Universal Records" redirects here. In a research note earlier this month, Morgan Stanley analysts Omar Sheikh and Patrick Wellington suggested that UMG could now carry a fair value worth of around $49 billion. Lucian Grainge will become CEO, replacing Doug Morris who will remain the company's chairman. 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. Adjusted Net Profit/Adjusted Net Profit per share. UMG Drops German Band With Neo-Nazi Affiliations 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. Universal Music Group - Overview, News & Competitors - ZoomInfo This compares to 10 million in non-cash share-based compensation expense in the prior year. Universal Music Group Company Stats Industry Business Services & Supplies Founded 1995 Headquarters Hilversum Country Netherlands Chief Executive Officer Lucian C. Grainge Employees 9,505. Adjusted EBITDA margin is Adjusted EBITDA divided by revenue. Free Cash Flow, as we calculate it, may not be comparable to similarly titled measures employed by other companies. However, it also spent 2.5bn on catalogue acquisitions and artist advances during the year, including re-signing stars such as. 36 songs. Music Publishing EBITDA of 307 million was up 14.1% year-over-year, or 16.3% in constant currency. 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. Dont be shocked to see a major music company swoop. UMG retained The Beatles (formerly of Parlophone) and Robbie Williams (formerly of Chrysalis). [126], Universal Music Group's Universal Music Canada is located in Toronto.[127]. [20][21] In 1995, Seagram acquired 80 percent of MCA from Matsushita. 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]. [36] With Grainge's appointment as CEO at UMG, Max Hole was promoted to COO of UMGI, effective July 1, 2010. Ad-supported streaming was particularly strong, due to the ongoing improvement in ad-based monetization and new and enhanced deals in social media. 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. Editors picks 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. 92 Customers rate Universal Music Group's Net Promoter Score a 36, which ranks it 1st against its competitors. [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. Additionally, as part of the changes to the labels, Motown Records transferred to Los Angeles to become part of the Capitol Music Group and previous Vice President Ethiopia Habtemariam was promoted to Label President for Motown Records. [52] Play It Again Sam acquired Co-Operative Music for 500,000 in March 2013. 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 MBW Review is supported by FUGA. 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. The decline in Net profit attributable to equity holders of the parent was due to the variance in revaluation of investments in listed companies (including Spotify and Tencent Music Entertainment) that was a net expense in 2021 of 315 million compared to a net gain in 2020 of 591 million. Apr 8, 2022. Grainge became the chairman of the UK division of the Universal Music Group, and then in 2005 of Universal Music Group International. Universal Music 2021 Earnings: Nearly $10 Billion in Revenue - Billboard [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. But what valuation will Universal reach as a public company? Download English songs online from JioSaavn. 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. Tencent emerged as UMG's biggest corporate shareholder with 20% of shares. 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. Universal Music Group Nashville is headquartered in Nashville, Tennessee.[123]. [70] On February 11, 2017, PolyGram Entertainment was relaunched as a film and television unit of Universal Music Group under David Blackman. Universal Music Group Valued at $53 Billion in New Goldman - Variety 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. [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. [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. (Paris-based Vivendi is currently sitting at around a 28bn market cap on the stock exchange in Europe.) Universal Music Latin Entertainment is headquartered in Miami, Florida. As for 2023, the chairman Lucian's Net Worth income is around $50 million according to some sources but it is not confirmed. The company previously said that UMG . Universal Music 2020 Earnings: Profit Margins Up - Billboard Brandi Carlile Bio, Net Worth, Age, Married, Height. [46] In November 2012, Steve Barnett was appointed chairman and CEO of Capitol Music Group. [75][76], In April 2017, UMG signed a new multi-year licensing agreement with Spotify, the world's leading streaming service, and in May 2017, UMG signed a deal with Tencent, China's biggest gaming and social media firm. 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. [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. Therefore, Spotifys current valuation implies that the record industrys streaming revenues will near enough triple in the future.. The 200 Greatest Singers of All Time Perhaps, though, this is the calm before the storm. $49 Billion? He has a net worth of $810 million, which . 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. Last rating was a day ago. Disclamer: Universal Music Publishing Group net worth displayed here are calculated based on a combination social factors. Vivendi said Wednesday that Universal Music Group will get a new chief executive this year. . Note: % YoY indicates % change year-over-year; % const. Grainge earns an annual salary of over $10 million as the chairman and Chief executive officer of Universal Music Group We are a community of entrepreneurs committed to creativity and innovation. But with annual costs of around $2 billion, Spotify is currently operating at close to break-even. Richard Rosenblatt (born 1969) is a serial entrepreneur as well as the Co Founder, Chairman and CEO of Demand Media. Universal, of course, recently laid down the hammer on this narrative by buying Bob Dylans song catalog for as much as $400 million. UMG is the largest record company worldwide and parent company . [131] It was estimated that consumers were overcharged by $500 million and up to $5 per 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. See Bruce Resnikoff's compensation, career history, education, & memberships. 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. 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 Subscribe. Lucian Grainge Net Worth, Bio, Age. Wife, Salary, Son, Samantha, UMG Send us a tip using our anonymous form. Subscribe. Interscope-Geffen-A&M and Universal Music Enterprises (UME), the company's catalog division, are headquartered in Santa Monica. Lucian Grainge - Wikipedia document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Sign up to our newsletter and make sure you don't miss a thing! Constant currency change is calculated by taking current year results and comparing against prior year results restated at current year rates. 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. 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. [124], Universal Music Group Global (formerly known as Universal Music Group International (UMGI)) operates offices in London.[125]. [48] Two months later, BMG acquired Sanctuary Records for 50 million ($58 million). Universal, which is the largest. Thats more than the estimated combined 2019 streams, sales and downloads of all the songwriters in the UK. Monte Lipman - Founder & Chi.. - Universal Music Group | ZoomInfo All rights reserved. Universal Music Publishing Group net worth Mar, 2023 - People Ai 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. Universal Music Group - Net Worth, Bio/Wiki 2018 - Richest Celebrities Last 30 days: $ 365, February 2021: $ 196, January Toggle navigation. Universal Music Group N.V. Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2021. Subscribe. Music Publishing EBITDA margin improved by 0.3pp year-over-year to 23.0%, as a result of operating leverage. [68] Barry Weiss, who previously moved from Sony Music to lead Island Def Jam Music in 2012 when Motown Records was incorporated into Island Def Jam, stepped down from Universal Music. [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. [18] MCA Inc. merged with American Decca in 1962. He served in this position until 2010. The financial information included in this press release is unaudited. malinda youtube 5. More Importantly, Who Should Do It? 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. (C) 2006 Roc-A-Fella Records, LLC. 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. 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 . [93] In August 2018, UMG announced a strategic expansion in Africa, opening an office in Abidjan to oversee French-speaking Africa, and also unveiling a Universal Music Nigera office in Lagos to focus on signing local artists and taking them global. We helped our artists achieve extraordinary success including 8 of the IFPIs top 10 global artists of the year. Such forward-looking statements are made as of the date of this press release. [147] UMG archivist Patrick Kraus assured that the Impulse! UMG chairman & CEO Lucian Grainge is based at the company's Santa Monica offices. listen now. Yet the entire global record business earned $11.4 billion from streaming in 2019. 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. 27 would focus on musicians at the age of 27, an age at which several iconic musicians died. indicates % change year-over-year adjusted for constant currency. This time, look at the surprising, out-of-the-blue valuation of Universal Music Group at over $40bn - backed up by Vivendi's CEO. [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. What Is Universal Music Group Worth? - AudiobyRay October 8, 2021 5:08 AM ET. 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. Universal Music Group owner says label worth $22B - New York Post In January 2011, UMG announced it was donating 200,000 master recordings from the 1920s to 1940s to the Library of Congress for preservation. [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. Adjusted net profit, which adjusts for the revaluation of investments amongst other items, amounted to 1,271 million in 2021, compared to 1,028 million in 2020, resulting in Adjusted EPS of 0.70 in 2021, compared to 0.57 in 2020. 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 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 [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. Whereas his annual yearly salary and his monthly salary are not publicly known. 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?) Universal Music Spain is based in Madrid, Spain. Merchandising and Other EBITDA in 2021 of 16 million decreased by 23.8% compared to 2020, or 27.3% in constant currency, due to higher artist costs. Does Universal Studios own Universal Music Group? 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. [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. Free Cash Flow is not a measure of performance calculated in accordance with IFRS and therefore it should not be considered in isolation of, or as a substitute for cash flow provided by operating activities as a measure of liquidity. Morgan Wallen. Featuring the most comprehensive catalogue of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Billboard's 2022 Power List Revealed - Billboard UMG is also ranked number 1 in the music category. [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. The same day, UMG announced launch of its new affiliates in Morocco and Israel. UMG has offices in New York City where Island Records, Def Jam Recordings, Republic Records, Verve Label Group, and Spinefarm Records are headquartered. Downloads and other digital revenue were flat, but declined 3.3% in constant currency, as download sales continue their industry-wide decline. 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. All Rights reserved. 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. The current estimated net worth of Solarwinds Corp's Director, Kenneth Hao, is estimated to be about $1. Q1 2022 Results: May 3, 2022 UMG's operational headquarters are located in Santa Monica. That same month, UMG signed a global, multi-year agreement with Facebook becoming the first of The "Big Three" to license its recorded music and publishing catalogs for video and other social experiences across Facebook, Instagram and Oculus. Copyright 2023 Penske Business Media, LLC. 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. The 100 Greatest TV Shows of All Time [149][150], On December 9, 2011, Megaupload published a music video titled: "The Mega Song", showing artists including Kanye West, Snoop Dogg, Alicia Keys and will.i.am endorsing the company. [57], On March 20, 2013, UMG announced the worldwide extension of their exclusive distribution deal with the Disney Music Group, excluding Japan. Universal Music Group, the world leader in music-based entertainment, leverages proprietary access and insights to develop innovative integrated brand opportunities globally with the potential to reach billions of engaged fans across digital media, events, name and likeness, sync & more. The company represents artists such as Justin Bieber, Lady Gaga, and Kanye West, and has partnered with retailers including Barneys, Bloomingdale's and Selfridges. The biggest music business story of several years is waiting in the wings, and it could be even more climactic than anticipated. He writes a regular column for Rolling Stone. 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.