universal music group ceo net worth

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. [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. 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. Subscribe. CEO Lucian Grainge Stock Symbol AMS: UMG Brandi Carlile Bio, Net Worth, Age, Married, Height. Required fields are marked *. He has a net worth of $810 million, which . Universal Music Group's revenue grew by more than 1 billion euros in 2021 to 8.5 . EBITDA margin was 17.4%, compared to 21.6% in the fourth quarter of 2020. Downloads and other digital revenue were flat, but declined 3.3% in constant currency, as download sales continue their industry-wide decline. Accordingly, UMG cautions readers against placing undue reliance on such forward-looking statements. [13][14] UMG was named by Forbes as one of America's Best Midsize Employers in 2019. [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. Were an independent distributor working with unsigned artists to put their music online for free. 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. 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. Please only use it for a guidance and Universal Music Publishing Group's actual income may vary a lot from the dollar amount shown above. See Bruce Resnikoff's compensation, career history, education, & memberships. The company paid $12million to the state in settlement. Universal Music Group's largest corporate shareholder, Tencent, is headquartered in Shenzhen, China. Universal's revenue jumped from 6bn in 2018 to 7.4bn in 2020. [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. Taylor, Darren Rodney (PDF, 154KB) Death in custody, natural causes. 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. [157] Megaupload dismissed its case against UMG in January 2012. $49 Billion? 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. Artist/songwriter agreements with music publishers today expire with relative regularity. 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. Tencent emerged as UMG's biggest corporate shareholder with 20% of shares. 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. 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. The descriptions of these alternative performance indicators and reconciliations of non-IFRS to IFRS measures are included in the Appendix to this press release. Capitol Music Group is headquartered at the Capitol Records Building in Hollywood. Universal Music Japan is headquartered in Shibuya, Tokyo. Operating profit improved 14.6%, or 15.4% in constant currency, to 1,399 million in 2021 driven by the growth in revenues. Read More Universal Music Group N.V. Corporate Headquarters - Hilversum, Netherlands "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. All Rights reserved. When it went public on the Euronext Amsterdam exchange, UMG was valued at 45.4 billion euros ($53.2 billion) up dramatically from the $8.5 billion that Softbank had offered for the company in. Adjusted Net Profit/Adjusted Net Profit per share. 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. 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. Such trends mean more copyrights leaving the grasp of major music companies, and subsequently being acquired by well-funded, catalog-snaffling upstarts like Hipgnosis Songs Fund and Primary Wave. Universal needs its stars for two of its upcoming initiatives. The company has seen a rise in its net worth which was at $22 billion in 2017 since Lucian took over leadership. Amazon MusicShow Me What You've Got Amazon. [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. [22][23] On December 9, 1996, the company was renamed Universal Studios, Inc.,[24] and its music division was renamed Universal Music Group; MCA Records continued as a label within the Universal Music Group. Revenues benefited from the continued growth in subscription and streaming, the timing of certain society distributions and an improvement in synchronization income. Universal Music Group's CEO Score Ranks 2nd. We are Universal Music Group, the world's leading music company. 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. Universal Music Group has officially gone public on the Euronext Amsterdam with a valuation north of $50 billion. Records, John Coltrane, Muddy Waters, Ahmad Jamal, Nashboro Records, and Chess Records masters survived the fire and were still in Universal's archive. To calculate EBITDA, the accounting impact of the following items is excluded from the income from Operating Profit: Adjusted EBITDA and Adjusted EBITDA margin. Universal Music Group CEO and chairman Sir Lucian Grainge has a good shot at topping any music-industry power list in 2019. 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. Universal, which is the largest. 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. A Are Universal Music Group internships paid? 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. 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. The more miserly in perpetuity rights deals the majors signed in the past are (thankfully) becoming a relic of a bygone age, a transition which will likely impact UMGs margins in the future. This time, look at the surprising, out-of-the-blue valuation of Universal Music Group at over $40bn - backed up by Vivendi's CEO. [80][81], In August 2017, UMG and Grace/Beyond agreed to develop three new music-based television series, 27, Melody Island and Mixtape. 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. 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. In February 2006, Vivendi (which own UMG since 2000) purchased the remaining 20 percent of UMG from Matsushita Electric. pre-order now. 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. [124] Company's legal headquarters are in the Netherlands. He formerly served as COO of Columbia Records. UMG believes that an understanding of its sales performance, profitability, financial strength and funding requirements is enhanced by reporting the following non-IFRS measures. [90] That same month, Vivendi announced it would explore selling as much as half of Universal Music Group to one or more investors. Is Universal Music Worth $29 Billion? The current estimated net worth of Solarwinds Corp's Director, Kenneth Hao, is estimated to be about $1. [145] Representatives for R.E.M. Whilst hailing the opportunities that the accessibility of streaming offers, Bevan called for an urgent need for the levelling out of the way revenue from a song is divided up. The MBW Review is supported by FUGA. If approved by shareholders, this would bring UMGs total dividend for 2021 to 725 million, or 0.40 per share. Universal Music Group Nashville is headquartered in Nashville, Tennessee.[123]. [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. He served in this position until 2010. The company went public on September 21, 2021, at a valuation of 46 billion. James Murtagh-Hopkins communicationsnl@umusic.com, Investors Universal Music Publishing is also headquartered in the city. 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. [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. 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. Sir Lucian Grainge, UMGs Chairman and CEO, said, 2021 was yet another historic year for UMG. [159][160], "Universal Records" redirects here. Top sellers in the prior year included The Weeknd, Billie Eilish, Post Malone, Lil Baby, Pop Smoke and BTS. A link to the live audio webcast will be available oninvestors.universalmusic.comand a link to the replay will be available after the call. Subscribe. 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. 4150 International Plz Fort Worth, TX 76109 8442 McDaniel Rd Fort Worth, TX 76126 PO Box 174 Strawn, TX 76475. "[141][142] In a statement issued on June 11, 2019, UMG said The New York Times article contained "numerous inaccuracies, misleading statements, contradictions and fundamental misunderstandings of the scope of the incident and affected assets. Are Universal Music Group internships paid? (Paris-based Vivendi is currently sitting at around a 28bn market cap on the stock exchange in Europe.) With Grainge's appointment as CEO at UMG, Max Hole was promoted to COO of UMGI, effective July 1, 2010. estimated UMG might be worth somewhere between $29 billion and $42 billion. Q1 2022 Results: May 3, 2022 Lucian Grainge- Net worth, Salary. The music icon & global superstar drops new single "Kant Nobody" feat. Send us a tip using our anonymous form. ", "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. 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. Vivendi said Wednesday that Universal Music Group will get a new chief executive this year. [27], On September 6, 2006, Vivendi announced its 1.63billion ($2.4billion) purchase of BMG Music Publishing; after receiving European Union regulatory approval, the acquisition was completed on June 25, 2007. Net worth score. [59], On April 2, 2013, the gospel music divisions of Motown Records and EMI merged to form a new label called Motown Gospel. [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. [126], Universal Music Group's Universal Music Canada is located in Toronto.[127]. Megaupload said that the video contained no infringing content, commenting: "we have signed agreements with every featured artist for this campaign". "[14] UMG has signed licensing agreements with more than 400 platforms worldwide. Show Me What You Got Kindle Edition. Kervens super-positive valuation of Universal was largely supported by his belief in the potential for billions of [music streaming] subscribers worldwide were currently at about 450 million as well as future price rises by streaming services like Spotify supported by innovation.. [34], Doug Morris stepped down from his position as CEO on January 1, 2011. The Guardian pointed out that Grainges bonus comes from Universal Musics 2021 IPO as well as Tencent buying a 10% stake in the company. [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. [121] Universal Music Latin Entertainment is also headquartered in Hollywood. - Dallas-Fort Worth, TX Area - Dallas, TX - Houston, TX Area - Missouri City, TX - Houston, TX . 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. [53] With EMI's absorption into Universal Music complete, its British operations consist of five label units: Island, Polydor, Decca, Virgin EMI and Capitol. Universal Music Group N.V.[3] (often abbreviated as UMG and referred to as just Universal Music) is a DutchAmerican multinational music corporation under Dutch law. Adele's net worth is a lot more than 19 + 21 + 25 + 30! [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. The estimated Net Worth of Kenneth Hao is at least $1. The descriptions of these alternative performance indicators and reconciliations of non-IFRS to IFRS measures are included in the Appendix to this press release. Music Publishing EBITDA margin improved by 0.3pp year-over-year to 23.0%, as a result of operating leverage. One Thing At A Time - the new album. And we expanded our partner portfolio into emerging growth areas such as health and fitness, Web3 and social video. Subscribe. The family of French businessman Vincent Bollor is revealed as the majority shareholder with 28% of UMG shares, through its holding company Bollor (18%) and its subsidiary Vivendi (10%), headed by his son Yannick Bollor. He writes a regular column for Rolling Stone. 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. 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). Your email address will not be published. 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). 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. UMG has offices in New York City where Island Records, Def Jam Recordings, Republic Records, Verve Label Group, and Spinefarm Records are headquartered. Head here to find out how our free music distribution can get your music heard. [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. [52] Play It Again Sam acquired Co-Operative Music for 500,000 in March 2013. [131] It was estimated that consumers were overcharged by $500 million and up to $5 per album. 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,. Therefore, Spotifys current valuation implies that the record industrys streaming revenues will near enough triple in the future.. UMG chairman & CEO Lucian Grainge is based at the company's Santa Monica offices. Moreover, in 2012, the CEO of Disney's music division, Alan Horn, became the chairman of Universal Music Group's board of directors. Perhaps, though, this is the calm before the storm. [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. On May 3, 2019, UMG filed a motion to dismiss the case, stating the Notices of Termination were not valid because the songs were not grants of copyright but works for hire. To name a few future risk factors for the company: 1. [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. Show Me What Youve Got GIFs. . The music business is kind of bored. Kent Ray Taylor is an American businessman and entrepreneur with a net worth of $2. "[155] The video was subsequently returned to YouTube, with the reasons for the UMG takedown remaining unclear. The stars boost music investments and global expansion. Once again, though, Daniel Kerven has trumped all-comers. Some think Tencent got an absolute bargain. malinda youtube 5. UMG is also ranked number 1 in the music category. And its all down to Spotifys market cap, which currently stands at $51.8 billion. Unaudited Consolidated Statement of Profit and Loss, Unaudited Consolidated Statement of Cash Flows, Non-IFRS Alternative Performance Indicators and Reconciliations, Reconciliation of Operating Profit to EBITDA, Reconciliation of EBITDA to Adjusted EBITDA, Reconciliation of net profit attributable to equity holders of the parent to Adjusted net profit, Reconciliation of net cash provided by/(used for) operating activities to Free Cash Flow. Bruce Resnikoff is President/CEO at Universal Music Enterprises. UMG boss Lucian Grainge is due a $201 million payday more than the total income of all UK songwriters and composers put together. 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. In its IPO, UMG hits 54 billion ($62.6 billion) valuation which is over a third bigger than initial valuation. [104] The deal is expected to be of $3.36 billion. 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? 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.

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