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. 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. Adele's net worth is a lot more than 19 + 21 + 25 + 30! Monte Lipman - Founder & Chi.. - Universal Music Group | ZoomInfo Net Worth in 2021. according to 2022 forbs richest personality report Kenneth Hao on rank "United States" with net worth of "1500 crores USD" till 2022. Richard Rosenblatt Net Worth. [13][14] UMG was named by Forbes as one of America's Best Midsize Employers in 2019. 92 Customers rate Universal Music Group's Net Promoter Score a 36, which ranks it 1st against its competitors. 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. [35] Morris became the next chairman of Sony Music Entertainment on July 1, 2011. [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. 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. 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. But with annual costs of around $2 billion, Spotify is currently operating at close to break-even. 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. Whereas his annual yearly salary and his monthly salary are not publicly known. Head here to find out how our free music distribution can get your music heard. Adjusted EBITDA margin is Adjusted EBITDA divided by revenue. [115], In January 2023, Sherry Lansing was named the Chairman of Board of Directors of the Universal Music Group in 2023. . 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 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. UMG believes that an understanding of its sales performance, profitability, financial strength and funding requirements is enhanced by reporting the following non-IFRS measures. [We] have suggested a blue sky valuation of 100 billion, wrote Kerven of UMG. 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]. Universal Music Group owner says label worth $22B - New York Post 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). Universal Music Group | Investor Relations 7 Universal Music Group Intern Salaries 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. Get news from your favorite artists before everyone else. Universal Music Group History: Founding, Timeline, and Milestones A link to the live audio webcast will be available oninvestors.universalmusic.comand a link to the replay will be available after the call. A free inside look at company reviews and salaries posted anonymously by employees. That acquisition gave UMG a 30 billion ($36 billion) enterprise value as recently as January. 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. This increase was driven by double-digit improvements across all segments, as discussed further below. 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,. In May 1998, Seagram purchased PolyGram[25] and merged it with Universal Music Group in early 1999. European Rights to Sony Music", Universal Music UK Announces Launch of Virgin EMI Records, "H Cobalt Music "" Universal Music Greece", "MINOS-EMI Greek Universal Subsidiary | GreekReporter.com", "Edel kauft legendres Jazzlabel von Universal", "Universal Music Group (UMG) & Disney Music Group (DMG) Expand Agreement Globally", "UNIVERSAL MUSIC GROUP (UMG) & DISNEY MUSIC GROUP (DMG) EXPAND AGREEMENT GLOBALLY", Motown Records and EMI Gospel Announce Joint Venture: Motown Gospel | EURweb Part 1, "Vivendi Declined SoftBank's Lucrative Offer for Universal", "Universal Music Group valuation hits $50bn as Vivendi seeks 'half dozen' investment bank partners", "Universal Music Distribution Owns Record Nine of Top 10 Digital Songs", "Universal a perfect 10 on Billboard 100", "SAG-AFTRA Honors 'Secret Life Of The American Teenager', "SAG-AFTRA Announces American Scene Award Recipients", "Universal Music Group Breaks Up Its Island Def Jam Division", "Amy wins best documentary feature Oscar", "Universal Music Group Taps David Blackman, Scott Landis for Film, TV Development and Production", "Universal Music Group Revives Polygram Label for Film and TV Production", "Grammy Awards bring gold to revitalized Capitol Records", "Universal Music Canada donates EMI Music Canada archive to University of Calgary", "Universal Music Group Buys Digital Marketer Fame House From SFX", "Paul McCartney Signs Worldwide Deal with Capitol Records", "The Bee Gees Ink Worldwide Deal With Capitol Records", "Spotify, UMG finally reach long-term streaming deal", "Universal Music Group Inks Major Licensing Deal With Tencent in China", "China's Tencent seals exclusive music licensing deal with UMG", "Luis Fonsi Breaks Seven Guinness World Records Titles Thanks To 'Despacito', "Universal Music Group Partners With 'Beat Bugs' Producers for Three New Music-Based Series", "Universal Music Group's New Program to Benefit Music-Based Startups", "USC Annenberg launches 'Annenberg Inclusion Initiative', "Universal 'accelerates efforts to promote diversity and inclusion' with new initiative", "Universal Music Acquires Iconic British Labels Stiff Records and ZTT", "Universal Music signs multiyear licensing deal with Facebook", "YouTube signs deal with UMG, Sony over streaming policies", "Rolling Stones Expand Partnership With Universal Music Group", "Vivendi to Sell Up to Half of Universal Music Group", "Why a Partial Universal Music Group Sale Could Spark a Wider Music Biz Selloff", "Rumor Mill - IT'S GOOD TO BE KINGBETTER THAN EVER, IN FACT", "Universal Music to boost its investment in Africa", "The world's biggest music company is setting its sights on Africa", "Elton John signs with Universal 'for the rest of his career', "Taylor Swift's New Record Deal Affects Thousands of Other Musicians", "Taylor Swift Stands to Make Music Business History as a Free Agent", "Taylor Swift Signs New Deal With Universal Music Group", "Queen's "Bohemian Rhapsody" is the most streamed classic rock song of all time", "Universal Music to Acquire Distributor Ingrooves in Move to Strengthen Commitment to Indie Labels", "Universal Music Group on the Forbes America's Best Midsize Employers List", "That Glitchy Music Video on YouTube? Top sellers for the quarter included releases from ABBA, Taylor Swift, The Beatles, Drake and BTS, while top sellers in the prior-year quarter included Ariana Grande, Pop Smoke, BTS, Taylor Swift, and Masaharu Fukuyama. 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'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. 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. 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. Constant currency change is calculated by taking current year results and comparing against prior year results restated at current year rates. Related Stories 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. 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. Pay ranges for employees at Universal Music Group by degree. In addition, Free Cash Flow does not necessarily represent funds available for discretionary use and is not necessarily a measure of our ability to fund our cash needs. This non-cash share-based compensation amounted to 45 million. Even $100 Billion? Found 92 of over 1K reviews. Universal Music Group operates a secondary office in Woodland Hills that includes finance, royalty, and operations functions.[122]. What Is Universal Music Group Worth? - AudiobyRay A $65 million bonus will push Universal Music Group CEO Lucian Granges 2021 income up to $201 million. 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. [104] The deal is expected to be of $3.36 billion. 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. We want to hear it. [19], In November 1990, Japanese multinational conglomerate Matsushita Electric agreed to acquire MCA for $6.59billion. Vivendi distributed 60% of its UMG shares and retaining 10%. Music Publishing EBITDA margin improved by 0.3pp year-over-year to 23.0%, as a result of operating leverage. [9] [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". 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. Universal Music Spain is based in Madrid, Spain. More generally, Kerven pointed to a potential convergence premium, given musics ability to drive traffic, engagement and support much bigger and more valuable ecosystems. In other words, whatever the next iPhone, Facebook or TikTok might be, its going to need music and its going to need to pay Universal in order to use it. 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. Required fields are marked *. Millions of dollars. Our core business is well positioned for a strong 2022, which aligns with the plan we have set to achieve our previously announced mid-term targets.. 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. [58] The exclusive deal also saw UMG granted unlimited access to all rights pertaining to Disney's 85-year back catalog of soundtracks and albums. In 2021, UMGs revenues of 8,504 million increased by 14.4% compared to 2020, or 17.0% in constant currency. [158], On February 5, 2019, John Waite and Joe Ely filed a class-action lawsuit against UMG claiming the company is violating their right to terminate grants of copyright after 35 years in accordance with copyright law of the United States by ignoring Notices of Termination. [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. All Rights reserved. Music Publishing EBITDA of 307 million was up 14.1% year-over-year, or 16.3% 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Sign up to our newsletter and make sure you don't miss a thing! Universal Music Group Nashville is headquartered in Nashville, Tennessee.[123]. Universal, which is the largest. 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. The initiative is meant to create change for representation of women and underrepresented racial and ethnic groups in the media industry. A risky bet on streaming fueled Universal Music's resurgence - Los 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 © 2023 RouteNote Blog. [106], The company and Lego Group announced a music product partnership on April 26, 2020. This came two months after the separation of Warner Music Group from Time Warner. Physical revenue grew 18.6% year-over-year, or 21.2% in constant currency, driven by strong vinyl demand as well as growth in direct-to-consumer sales. [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. UMG is also ranked number 1 in the music category. 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. Thats equivalent to nearly $120 billion, and three times the valuation cemented by the Tencent consortium stake sale. UMG boss Lucian Grainge is due a $201 million payday more than the total income of all UK songwriters and composers put together. By 2018, the song had broken several Guinness World Records, including Most Weeks at Number 1 on Billboard Hot Latin Songs chart and most-viewed video online. Subscribe. Net worth score. 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. Thats more than the estimated combined 2019 streams, sales and downloads of all the songwriters in the UK. Based on IFRS 2, the fourth quarter of 2021 included certain non-cash share-based compensation which, as disclosed in the Companys prospectus dated September 14, 2021, was awarded by UMGs former parent company, Vivendi SE, to several UMG executives in connection with the Companys Admission to the Euronext Amsterdam. estimated UMG might be worth somewhere between $29 billion and $42 billion. "[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. "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. Ivors Academy and others suggest people in the UK should write to their MP asking for them to support a Private Members Bill from Kevin Brennan MP, which asks for more protections for musicians against unfair payments. The company paid $12million to the state in settlement. Net cash provided by/(used for) operating activities Adjustments Universal Music Latin Entertainment is headquartered in Miami, Florida. She has also been featured in an original music video on. UMG Drops German Band With Neo-Nazi Affiliations 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. Universal Music Group | LinkedIn [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. This compares to 10 million in non-cash share-based compensation expense in the prior year. [40] In March 2012, the European Union opened an investigation into the acquisition[41] The EU asked rivals and consumer groups whether the deal would result in higher prices and shut out competitors. [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. 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. Billboard's 2022 Power List Revealed - Billboard Bruce Resnikoff is President/CEO at Universal Music Enterprises. [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. 92 Universal Music Group reviews. After the IPO, the ownership of Universal Music Group has dramatically. Popular. 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. [126], Universal Music Group's Universal Music Canada is located in Toronto.[127]. Lucian Grainge Bio, Wife, Career, Net Worth, Height, Weight, Child Universal Music Group - Overview, News & Competitors - ZoomInfo If approved by shareholders, this would bring UMGs total dividend for 2021 to 725 million, or 0.40 per share. [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. [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. 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 increase in Adjusted net profit was driven by the growth in EBITDA. Show Me What Youve Got GIFs. 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. 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. 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. 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). 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. Popular; COVID-19 Related; Royalty advance payments, net of recoupments declined 38.1% to 364 million in 2021 from 588 million in 2020, due to the timing of major artist renewals. Show Me What You Got Kindle Edition. $49 Billion? Universal Music Group (UMG) is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising and audiovisual. Universal Music Group Company Stats Industry Business Services & Supplies Founded 1995 Headquarters Hilversum Country Netherlands Chief Executive Officer Lucian C. Grainge Employees 9,505. Send us a tip using our anonymous form. [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. 19, 2021. UMG-signed artists claimed no less than eight of the top 10. [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. Furthermore, on December 19, 2017, UMG signed a multi-year licensing agreement with YouTube.[88]. [63], In August 2013, UMG became the first company in the US to have nine of the Top 10 songs on the digital charts, according to SoundScan[64] and weeks later, became the first company to hold all 10 of the Top 10 spots on the Billboard Hot 100 Chart. Capitol Music Group is headquartered at the Capitol Records Building in Hollywood. For example, in 2010, Universal Music Group CEO Lucian Grainge stepped down from his role and was replaced by Doug Morris, who had previously worked for Disney. UMG Executive Vice President Michele Anthony and Universal Music Publishing Group Chairman and CEO Jody Gerson have oversight of the pair. Were not anti-major label here at RouteNote, but we think there should be another option for artists to release music that doesnt involve signing away their rights to a huge multinational. 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. Apr 8, 2022. The financial information included in this press release is unaudited. This press release may contain statements that constitute forward-looking statements with respect to UMGs financial condition, results of operations, business, strategy and plans. 27 would focus on musicians at the age of 27, an age at which several iconic musicians died. 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.