Are Universal Music Group internships paid? In 2021, UMGs revenues of 8,504 million increased by 14.4% compared to 2020, or 17.0% in constant currency. 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. 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). 92 Customers rate Universal Music Group's Net Promoter Score a 36, which ranks it 1st against its competitors. 100% Approve of CEO. Music Publishing EBITDA margin improved by 0.3pp year-over-year to 23.0%, as a result of operating leverage. Found 92 of over 1K reviews. [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. [124], Universal Music Group Global (formerly known as Universal Music Group International (UMGI)) operates offices in London.[125]. 99%. Subscribe. We exist to shape culture through the power of artistry. [52] Play It Again Sam acquired Co-Operative Music for 500,000 in March 2013. Your email address will not be published. James Murtagh-Hopkins communicationsnl@umusic.com, Investors Music Publishing revenue amounted to 1,335 million in 2021, up 12.6% year-over-year, or 15.0% in constant currency. 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. First, the record label plans to spinoff from parent company Vivendi and go public at the end of 2021. 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. 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. 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. In 2021, Recorded Music revenues were 6,822 million, up 14.3% compared to 2020, or 16.9% in constant currency. Universal Music Group's Universal Music Polska is located in Warsaw. [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. [13][14] UMG was named by Forbes as one of America's Best Midsize Employers in 2019. Megaupload said that the video contained no infringing content, commenting: "we have signed agreements with every featured artist for this campaign". The 200 Greatest Singers of All Time All rights reserved. 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. He formerly served as COO of Columbia Records. Nearly all of these mastersin some cases, the complete discographies of entire record labelswere wiped out in the fire. Get news from your favorite artists before everyone else. UMGs Recorded Music, Music Publishing and Merchandising and Other segments all had strong, double-digit revenue growth, as discussed further below. This press release may contain statements that constitute forward-looking statements with respect to UMGs financial condition, results of operations, business, strategy and plans. 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). Salary $49k $96k Associate of Science (AS), Recording Arts Avg. 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. Related Stories The increase in Adjusted net profit was driven by the growth in EBITDA. UMG chairman & CEO Lucian Grainge is based at the company's Santa Monica offices. [36] With Grainge's appointment as CEO at UMG, Max Hole was promoted to COO of UMGI, effective July 1, 2010. Popular; COVID-19 Related; [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. 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. [106], The company and Lego Group announced a music product partnership on April 26, 2020. Last month, Universal Music Group (UMG) parent company Vivendi confirmed that its management board was considering a proposal to spin out 60% of the worlds biggest music companyonto the Amsterdam Stock Exchange at an undefined point in 2021. 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.. Kent Ray Taylor is an American businessman and entrepreneur with a net worth of $2. 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. Accordingly, UMG cautions readers against placing undue reliance on such forward-looking statements. Subscribe. Arnaud de Puyfontaine, CEO, Vivendi The MBW Review offers our take on some of the music biz's biggest recent goings-on. Dont be shocked to see a major music company swoop. As far as I know the multiplayer is just local, but you need only 2 controllers to get this one. 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. Required fields are marked *. Universal Music Group CEO and chairman Sir Lucian Grainge has a good shot at topping any music-industry power list in 2019. [57], On March 20, 2013, UMG announced the worldwide extension of their exclusive distribution deal with the Disney Music Group, excluding Japan. Note: % YoY indicates % change year-over-year; % const. 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. Cost of revenues, consisting of artist and production costs, increased by 17.6% to 4,608 million in 2021, reflecting higher revenues and revenue mix. Subscribe. Def Jam, Island and Republic Records also maintain offices there. PGA TOUR stats, video, photos, results, and career highlights. Is Universal Music Worth $29 Billion? Bruno lives in a lavish mansion thanks to his . No wonder the worlds biggest music rights companies saw bottom-line profits soar in 2020; their spending presumably decreased. Brandi Carlile Bio, Net Worth, Age, Married, Height. On 1 January 2011 he became CEO of Universal Music Group, and then chairman on 9 March 2011, succeeding Doug Morris. [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. 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. Grainge. Pershing Square Holdings held 10% of UMG shares. 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. 7 Universal Music Group Intern Salaries 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. [11], In January 2022, UMG acquired the Icelandic record label Alda Music, which owned the rights to nearly 80 percent of all music released in Iceland. Note: % YoY indicates % change year-over-year; % const. Were an independent distributor working with unsigned artists to put their music online for free. At Universal Music Group (EURONEXT: UMG), we exist to shape culture through the power of artistry. And its all down to Spotifys market cap, which currently stands at $51.8 billion. Top sellers for the year included new releases from Olivia Rodrigo, BTS, Justin Bieber, Morgan Wallen, ABBA and Taylor Swift as well as continued sales of The Weeknd and Billie Eilish. "[68] Island Records and Def Jam now operate as autonomous record labels. If approved by shareholders, this would bring UMGs total dividend for 2021 to 725 million, or 0.40 per share. ", "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! Subscribe. The initiative is meant to create change for representation of women and underrepresented racial and ethnic groups in the media industry. 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. Grainge earns an annual salary of over $10 million as the chairman and Chief executive officer of Universal Music Group . [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. Subscribe. Grainge later replaced him as chairman on March 9, 2011. indicates % change year-over-year adjusted for constant currency. Millions of dollars. Universal Music Group CEO Lucian Grainge is reportedly set to earn north of $200 million in 2021 - more than the total songwriting income (attributable to streaming and sales) in the UK in. 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. Taylor, Darren Rodney (PDF, 154KB) Death in custody, natural causes. [132], In May 2006, an investigation led by then New York Attorney General, Eliot Spitzer, concluded with a determination that Universal Music Group bribed radio stations to play songs from Ashlee Simpson, Brian McKnight, Big Tymers, Nick Lachey, Lindsay Lohan and other performers under Universal labels. Thats more than the estimated combined 2019 streams, sales and downloads of all the songwriters in the UK. But what valuation will Universal reach as a public company? See Bruce Resnikoff's compensation, career history, education, & memberships. - Dallas-Fort Worth, TX Area - Dallas, TX - Houston, TX Area - Missouri City, TX - Houston, TX . This time, look at the surprising, out-of-the-blue valuation of Universal Music Group at over $40bn - backed up by Vivendi's CEO. Vivendi says this qualified as the minimum target valuation it needed to trigger thoughts of going public in Amsterdam. The music business is kind of bored. 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. [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. [113], On May 31, 2022, Universal Music Group announced Baa1/BBB long-term credit ratings from Moody's and S&P. Subscribe. 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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[105], In February 2020, Vivendi announced it was planning to go public in an IPO within three years. [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. Tim Ingham is the founder and publisher ofMusic Business Worldwide, which has serviced the global industry with news, analysis, and jobs since 2015. 27 would focus on musicians at the age of 27, an age at which several iconic musicians died. Recorded Music EBITDA margin improved by 0.9pp to 23.7% from 22.8% in 2020 due to operating leverage. [74] That same year, Paul McCartney and the Bee Gees both signed to UMG's Capitol Records, including their catalog releases. This dividend proposal is subject to approval by the Annual General Meeting of Shareholders to be held on Thursday, 12 May 2022. Subscription and streaming revenue grew 16.9% year-over-year, or 19.8% in constant currency, with strong growth in both subscription and ad-supported streaming revenues. The MBW Review is supported by FUGA. Show us what you've . Send us a tip using our anonymous form. Popular. [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. Vivendi said Wednesday that Universal Music Group will get a new chief executive this year. 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. Revenues benefited from the continued growth in subscription and streaming, an improvement in synchronization income and from the benefit of catalogue acquisitions. 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. 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. Vivendi distributed 60% of its UMG shares and retaining 10%. No wonder Som Livre, Brazils biggest domestic label, is believed to be close to selling up for around $300 million. [80][81], In August 2017, UMG and Grace/Beyond agreed to develop three new music-based television series, 27, Melody Island and Mixtape. A $65 million bonus will push Universal Music Group CEO Lucian Grange's 2021 income up to $201 million. [61] In July 2018, JPMorgan said that UMG could be worth as much as $40 billion[62] and then increased the valuation to $50 billion in 2019. Last 30 days: $ 365, February 2021: $ 196, January Toggle navigation. The Guardian pointed out that Grainges bonus comes from Universal Musics 2021 IPO as well as Tencent buying a 10% stake in the company. 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. Universal's revenue jumped from 6bn in 2018 to 7.4bn in 2020. [60] In May 2013, Japanese company SoftBank offered $8.5billion to Vivendi for the acquisition of UMG, but Vivendi rejected it. enter the sultry sleepless world of "Lavender Haze." watch now. The descriptions of these alternative performance indicators and reconciliations of non-IFRS to IFRS measures are included in the Appendix to this press release. A final decision spoiler: its going to be a big yes is due by the end of this month. 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. In the interest of balance, there is a more bearish case to be made on Universals valuation today. Erika Begun investorrelations@umusic.com, Upcoming Calendar "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. UMG disclaims any intention or obligation to provide, update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise. 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 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. 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.