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Universal Music GmbH, the German subsidiary, is headquartered in Berlin. This increase was driven by double-digit improvements across all segments, as discussed further below. 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. After the IPO, the ownership of Universal Music Group has dramatically. The Guardian pointed out that Grainges bonus comes from Universal Musics 2021 IPO as well as Tencent buying a 10% stake in the company. UMG believes that an understanding of its sales performance, profitability, financial strength and funding requirements is enhanced by reporting the following non-IFRS measures. Tim Ingham is the founder and publisher ofMusic Business Worldwide, which has serviced the global industry with news, analysis, and jobs since 2015. [131] It was estimated that consumers were overcharged by $500 million and up to $5 per album. SIGN UP TO THE NEWSLETTER BELOW, USING YOUR SOCIAL ACCOUNT OR EMAIL. [151] The music video was also uploaded to YouTube, but was removed following a takedown request by UMG. Notably, in the fourth quarter of 2020, EBITDA, Adjusted EBITDA, EBITDA margin and Adjusted EBITDA margin benefited from a 28 million exceptional recovery of an advance provision related to a label acquisition, which was the primary driver of the year-over-year decline in margin. Recorded Music EBITDA margin improved by 0.9pp to 23.7% from 22.8% in 2020 due to operating leverage. No wonder Som Livre, Brazils biggest domestic label, is believed to be close to selling up for around $300 million. Subscribe. 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. We are a community of entrepreneurs committed to creativity and innovation. 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. A $65 million bonus will push Universal Music Group CEO Lucian Grange's 2021 income up to $201 million. [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". [10] Pershing Square Holdings later acquired ten percent of UMG prior to its IPO on the Euronext Amsterdam stock exchange. [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. Amazon MusicShow Me What You've Got Amazon. The 100 Best Albums of 2022. [52] Play It Again Sam acquired Co-Operative Music for 500,000 in March 2013. All rights reserved. [129], In January 2022, the company's shareholding is:[3], In 2000, music companies including UMG entered into consent agreements with the Federal Trade Commission,[130] with no admission of liability,[131] whereby they agreed to discontinue the use of Minimum Advertised Price programs under which subsidized cooperative advertising was provided to retailers that agreed to adhere to minimum advertised pricing. The biggest music business story of several years is waiting in the wings, and it could be even more climactic than anticipated. 99%. Apr 8, 2022. The 500 Greatest Songs of All Time Thank you for registering! 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. [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. Accordingly, UMG cautions readers against placing undue reliance on such forward-looking statements. Hilversum, The Netherlands, March 3, 2022 Universal Music Group N.V. (UMG or the Company) today announced its financial results for the fourth quarter and full year ended December 31, 2021. The company went public on September 21, 2021, at a valuation of 46 billion. License and other revenue improved 15.5% year-over-year, or 16.5% in constant currency, as a result of improvements in broadcast and neighboring rights collections, audio-visual production income and synchronization, live and brand deals. The Company will host a conference call to discuss these results on Thursday, March 3, 2021 at6:15PM CEST. Adjusted EBITDA margin is Adjusted EBITDA divided by revenue. [135][136][137] In April 2016, UMG had the audio muted of a video clip showing Katherine Jenkins singing the British national anthem. UMG has offices in New York City where Island Records, Def Jam Recordings, Republic Records, Verve Label Group, and Spinefarm Records are headquartered. 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 [109], In July 2020, UMG signed a new multi-year licensing agreement with Spotify to provide value for artists and immense experiences for music fans. A free inside look at company reviews and salaries posted anonymously by employees. 2. He writes a regular column for Rolling Stone. Universal Music Group operates a secondary office in Woodland Hills that includes finance, royalty, and operations functions.[122]. 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. Brandi Carlile Net Worth Her net worth has been growing significantly in 2020-2021. Lucian Grainge will become CEO, replacing Doug Morris who will remain the company's chairman. estimated UMG might be worth somewhere between $29 billion and $42 billion. 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. ", "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! [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. [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. Universal Music Group Company Stats Industry Business Services & Supplies Founded 1995 Headquarters Hilversum Country Netherlands Chief Executive Officer Lucian C. Grainge Employees 9,505. 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. "Theres only one word for it obscene" @crispinhunt https://t.co/wayqIVhAAA Share this post if you agree (1/2) pic.twitter.com/3i7W6ZOs9P. 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. [18] MCA Inc. merged with American Decca in 1962. [157] Megaupload dismissed its case against UMG in January 2012. [106], The company and Lego Group announced a music product partnership on April 26, 2020. [39] IMPALA opposed the merger. Actual results may differ materially from such forward-looking statements as a result of a number of risks and uncertainties, many of which are related to factors that are outside UMGs control, including, but not limited to, UMGs inability to compete successfully and to identify, attract, sign and retain successful recording artists and songwriters, failure of streaming and subscription adoption or revenue to grow or to grow less rapidly than anticipated, UMGs reliance on digital service providers, UMGs inability to execute its business strategy, the global nature of UMGs operations, UMGs inability to protect its intellectual property and against piracy, UMGs inability to attract and retain key personnel, changes in laws and regulations and the other risks that will be described in the annual report. [73], In May 2016, UMG acquired Famehouse, a digital marketing agency. 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. [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. Your email address will not be published. [55][56] Edel AG acquired the MPS catalogue from Universal in January 2014. Revenues benefited from the continued growth in subscription and streaming, an improvement in synchronization income and from the benefit of catalogue acquisitions. Lucian Grainge Salary. With more than 1.813 billion shares outstanding, the music powerhouse would at that price have a market valuation of about 33.5 billion euros ($39.3 billion). [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. UMG is also ranked number 1 in the music category. [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. "[14] UMG has signed licensing agreements with more than 400 platforms worldwide. 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. . We have sent a confirmation email to {USEREMAIL}. 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. Kent Ray Taylor is an American businessman and entrepreneur with a net worth of $2. Ad-supported streaming was particularly strong, due to the ongoing improvement in ad-based monetization and new and enhanced deals in social media. 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. Required fields are marked *. 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. It moved in 2002 from Hamburg to the district Friedrichshain at the river Spree. Copyright 2023 Penske Business Media, LLC. He formerly served as COO of Columbia Records. 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. [121] Universal Music Latin Entertainment is also headquartered in Hollywood. Tencent emerged as UMG's biggest corporate shareholder with 20% of shares. 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. [50][51] Later in February, Sony Music Entertainment acquired UMG's European share in Now That's What I Call Music for approximately $60million. Universal Music Publishing is also headquartered in the city. 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 The stars boost music investments and global expansion. 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). Capitol Music Group is headquartered at the Capitol Records Building in Hollywood. 19, 2021. Campaigners would like to see at least some of that windfall to trickle down to the songwriters and artists whose music keeps the industry running. Note: % YoY indicates % change year-over-year; % const. 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. 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.