Subscribe. 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. [44][45], Universal Music Group completed their acquisition of EMI on September 28, 2012. Constant currency change is calculated by taking current year results and comparing against prior year results restated at current year rates. 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. [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. [52] Play It Again Sam acquired Co-Operative Music for 500,000 in March 2013. . Universal Music Group net worth 1.24 Billion Millions of dollars 99% Net worth score Disclamer: Universal Music Group net worth displayed here are calculated based on a combination social factors. 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. 319 Million. [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. Bruno lives in a lavish mansion thanks to his . 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. Show Me What Youve Got GIFs. [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? [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. [We] have suggested a blue sky valuation of 100 billion, wrote Kerven of UMG. Such forward-looking statements are made as of the date of this press release. Universal Music Latin Entertainment is headquartered in Miami, Florida. 3. 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. Keep reading to discover what it's like to work with the best in the business. [16][17] The Decca Record Co. Ltd. of England spun American Decca off in 1939. ", "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! Free cash flow increased to 638 million in 2021 compared to negative 158 million in 2020, mainly as a result of the improvement in Net cash provided by operating activities and lower cash paid for catalogue acquisitions, which declined to 388 million in 2021, compared to 929 million in 2020, based on the timing of deals. Subscribe. Furthermore, on December 19, 2017, UMG signed a multi-year licensing agreement with YouTube.[88]. To name a few future risk factors for the company: 1. Accordingly, UMG cautions readers against placing undue reliance on such forward-looking statements. 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. Subscribe Taylor Swift. [4][5] The biggest music company in the world,[6] it is one of the "Big Three" record labels, along with Sony Music and Warner Music Group. [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. [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. Daniel Kerven, JP Morgan Cazenoves Head of European Media and Internet Equity Research, hit headlines in February 2019 by suggesting that Universal Music Group was worth over 44 billion ($50 billion). 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. 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. In a research note issued last month, Kerven pointed out that he had long maintained UMGs value was higher than 40 billion, but that he was now ready to go one further. 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. [30][31][32][33], In 2008, Universal Music Group agreed to make its catalog available to Spotify, then a new streaming service, for use outside the U.S. on a limited basis. 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 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. 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. Vivendi's Universal Music Group, the world's biggest music label, is worth a stunning $22 billion, the French owner of the label said Tuesday. Def Jam, Island and Republic Records also maintain offices there. [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. Brandi Carlile Net Worth Her net worth has been growing significantly in 2020-2021. [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. [28][29], In June 2007, UMG acquired Sanctuary, which eventually became UMG's entertainment merchandising and brand management division, Bravado. Nearly all of these mastersin some cases, the complete discographies of entire record labelswere wiped out in the fire. Universal Music Group has officially gone public on the Euronext Amsterdam with a valuation north of $50 billion. Thats more than the estimated combined 2019 streams, sales and downloads of all the songwriters in the UK. 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. 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. Subscribe. ; Asturianu; ; ; () ; Catal; Cebuano; etina 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 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 impairment losses on goodwill and other intangibles; other income and expenses related to transactions with shareowners (except when directly recognized in equity); depreciation of tangible assets including right of use assets; (gains)/losses on the sale of tangible assets, included right of use assets and intangible assets; impairment losses on goodwill and intangible assets; other charges and income related to transactions with shareowners; financial income and expenses, excluding interest and income from investments; non-cash share-based compensation expenses; certain one-time items that are deemed by management to be significant and incidental to normal business activity; income taxes and adjustments attributable to non-controlling interests; and. 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. The estimated Net Worth of Kenneth Hao is at least $1. © 2023 RouteNote Blog. [106], The company and Lego Group announced a music product partnership on April 26, 2020. Tencent's ultimate largest controlling corporate shareholder, Naspers, is headquartered in Cape Town, South Africa. Ten percent of Universal Music Group was acquired by Tencent in March 2020 for US$3 billion.nUniversal Music Group.nUMG's headquarters in Santa Monica, Californian. Investors and analysts interested in asking questions can pre-register for a dial-in line atinvestors.universalmusic.comunder the Financial Reports tab. That's 340% greater than the $6.7 billion in revenue Universal reported for 2013. [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. Universal's revenue jumped from 6bn in 2018 to 7.4bn in 2020. On that topic, one senior and fiscally focused industry insider passed me a set of rough numbers the other day that further adds weight to Universals potential of becoming a $100-billion-plus company in the months and years ahead. Artist/songwriter agreements with music publishers today expire with relative regularity. Is Universal Music Worth $29 Billion? The 500 Greatest Songs of All Time UMG chairman & CEO Lucian Grainge is based at the company's Santa Monica offices. [104] The deal is expected to be of $3.36 billion. 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. [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. "[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. 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). First, the record label plans to spinoff from parent company Vivendi and go public at the end of 2021. UMG Executive Vice President Michele Anthony and Universal Music Publishing Group Chairman and CEO Jody Gerson have oversight of the pair. [68], Universal Music Group entered into film and TV production with the 2014 purchase of Eagle Rock Entertainment. Please only use it for a guidance and Universal Music Group's actual income may vary a lot from the dollar amount shown above. 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 Company will host a conference call to discuss these results on Thursday, March 3, 2021 at6:15PM CEST. Disclamer: Universal Music Publishing Group net worth displayed here are calculated based on a combination social factors. 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. Net worth score. The company paid $12million to the state in settlement. Lucian Grainge- Net worth, Salary. Physical revenue showed another quarter of strong growth, increasing by 11.1% year-over-year, or 10.5% in constant currency, mainly as a result of increased vinyl demand driven by releases from Taylor Swift, ABBA and The Beatles, as well as growth in direct-to-consumer sales. 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. Bachelor of Arts (BA), Communication Avg. Recorded Music EBITDA in 2021 was 1,614 million, up 18.7% year-over-year, or 20.4% in constant currency, driven by the growth in revenues. 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. [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. "[155] The video was subsequently returned to YouTube, with the reasons for the UMG takedown remaining unclear. Q1 2022 Results: May 3, 2022 UMG boss Lucian Grainge is due a $201 million payday more than the total income of all UK songwriters and composers put together. Free Cash Flow, as we calculate it, may not be comparable to similarly titled measures employed by other companies. 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. Note: % YoY indicates % change year-over-year; % const. See Bruce Resnikoff's compensation, career history, education, & memberships. [49], On February 8, 2013, Warner Music Group acquired the Parlophone Label Group (consisting of Parlophone Records, Chrysalis Records, EMI Classics, Virgin Classics and EMI Records' Belgian, Czech, Danish, French, Norwegian, Portuguese, Spanish, Slovak and Swedish divisions) for $765million (487million). 92 Customers rate Universal Music Group's Net Promoter Score a 36, which ranks it 1st against its competitors. [46] In November 2012, Steve Barnett was appointed chairman and CEO of Capitol Music Group. [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. If approved by shareholders, this would bring UMGs total dividend for 2021 to 725 million, or 0.40 per share. 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. As a result of this deal DMG's labels and artists have access to UMG's roster of producers and songwriters on a worldwide basis. Last rating was a day ago. . Lucian Grainge will become CEO, replacing Doug Morris who will remain the company's chairman. Show us what you've . Music Publishing EBITDA of 307 million was up 14.1% year-over-year, or 16.3% in constant currency. But with annual costs of around $2 billion, Spotify is currently operating at close to break-even. Salary $55k Bachelor. [90] That same month, Vivendi announced it would explore selling as much as half of Universal Music Group to one or more investors. UMG believes that an understanding of its sales performance, profitability, financial strength and funding requirements is enhanced by reporting the following non-IFRS measures. Now thats music to Universals and its prospective investors ears. On 1 January 2011 he became CEO of Universal Music Group, and then chairman on 9 March 2011, succeeding Doug Morris. 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. Universal Music Group N.V. Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2021. Salary $49k $96k Associate of Science (AS), Recording Arts Avg. [131] It was estimated that consumers were overcharged by $500 million and up to $5 per album. UMG considers the use of Adjusted net profit appropriate as UMG uses it as the basis for the Adjusted net profit per share (in EUR) diluted, both of which are non-IFRS measures. [9] [1] This press release includes certain alternative performance indicators which are not defined in the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board as endorsed by the EU. [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. Subscribe. BARCELONA/LONDON (Reuters) - Vivendi's Universal Music Group (UMG) could be worth more than $40 billion, Chief Executive Arnaud de Puyfontaine said on Friday, helping to buoy shares in the. [10] Pershing Square Holdings later acquired ten percent of UMG prior to its IPO on the Euronext Amsterdam stock exchange. ", "Universal Music Is Battling to Nullify the 35-Year Copyright Termination Right", https://en.wikipedia.org/w/index.php?title=Universal_Music_Group&oldid=1139387478, This page was last edited on 14 February 2023, at 21:54. [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. Two years on, streaming revenues have continued to mushroom, even through a pandemic, and the valuations slapped on Universal have grown in tandem. The 2021 annual report has not yet been published and an auditors opinion has not yet been issued. The same day, UMG announced launch of its new affiliates in Morocco and Israel. Some think Tencent got an absolute bargain. Richard Rosenblatt (born 1969) is a serial entrepreneur as well as the Co Founder, Chairman and CEO of Demand Media. For Universal Records 19881989, see, 2004: Consolidating into a Vivendi subsidiary, 20072012: UMG acquisitions and EMI purchase, 20122017: EMI integration and divisions reorganization, 2018present: Continued growth and public trading, Last edited on 14 February 2023, at 21:54, following the country's invasion of the Ukraine, United States District Court for the Northern District of California, "Universal Music Group N.V. Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2021", "Universal Music Group Prospectus 14 September 2021", "Tencent in Talks for Stake in Record Label of Ariana Grande, Queen", "Sir Lucian Grainge: After Tencent deal 'our strategic vision remains the same', "Tencent Agrees to Buy 10 Percent of Universal Music Group", "Tencent's Universal Music Group acquisition is now official", "Vivendi: the Tencent-led consortium has completed the exercise of its call option and now owns 20% of UMG's share capital - Vivendi", "Universal hits massive valuation of $54bn as it lists on Amsterdam Stock Exchange", "Universal Music Group shares soar in market debut", "The World's Most Innovative Companies 2019: Music Honorees", "How $33 billion Universal Music Group is redefining the modern music label", "The Origin & Many Uses of Shellac by R.J. 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[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. They claimed that the recording of "God Save the Queen" was copyrighted, and YouTube initially complied with this request, but subsequently offered the video with the original audio track. Read More Universal Music Group N.V. Corporate Headquarters - Hilversum, Netherlands "[14] UMG has signed licensing agreements with more than 400 platforms worldwide. The 200 Greatest Singers of All Time [59], On April 2, 2013, the gospel music divisions of Motown Records and EMI merged to form a new label called Motown Gospel. 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. Therefore, Spotifys current valuation implies that the record industrys streaming revenues will near enough triple in the future.. Amazon MusicShow Me What You've Got Amazon. Ad-supported streaming was particularly strong, due to the ongoing improvement in ad-based monetization and new and enhanced deals in social media. 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. Dr. Dre Nearing Deal to Sell Music Rights. indicates % change year-over-year adjusted for 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. All Rights reserved. Top sellers in the prior year included The Weeknd, Billie Eilish, Post Malone, Lil Baby, Pop Smoke and BTS. In 2021, Recorded Music revenues were 6,822 million, up 14.3% compared to 2020, or 16.9% in constant currency. Apple HomePod 2 Review: Im Confused (Video), Android 13 brings spatial audio to Google Pixel phones, with head tracking on Pixel Buds Pro, Sonos and IKEA announce a new SYMFONISK floor lamp speaker, Serato Stems: clean instrument isolation in your DJ mix, Everything you need to know as an artist on SoundCloud how to monetize your music and get unlimited uploads for free, PUSH.fm: Promote your music with free digital marketing tools, What is Qobuz and how to upload your music free, Where is iTunes in 2022? 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. 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.
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