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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. [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. 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. [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. 19, 2021. Is Universal Music Worth $29 Billion? This press release includes certain alternative performance indicators which are not defined in IFRS issued by the International Accounting Standards Board as endorsed by the EU. And its all down to Spotifys market cap, which currently stands at $51.8 billion. 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. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Sign up to our newsletter and make sure you don't miss a thing! Music Publishing revenue amounted to 408 million in the fourth quarter of 2021, up 31.6% year-over-year, or 28.3% in constant currency. [35] Morris became the next chairman of Sony Music Entertainment on July 1, 2011. [46] In November 2012, Steve Barnett was appointed chairman and CEO of Capitol Music Group. [149][150], On December 9, 2011, Megaupload published a music video titled: "The Mega Song", showing artists including Kanye West, Snoop Dogg, Alicia Keys and will.i.am endorsing the company. As for 2023, the chairman Lucian's Net Worth income is around $50 million according to some sources but it is not confirmed. "[68] Island Records and Def Jam now operate as autonomous record labels. [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. [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. A link to the live audio webcast will be available oninvestors.universalmusic.comand a link to the replay will be available after the call. 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. 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. 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. 100% Approve of CEO. UMG chairman & CEO Lucian Grainge is based at the company's Santa Monica offices. David Massey and Bartels, who worked respectively at Island and Def Jam Records, were named to the new record labels independently. [124], Universal Music Group Global (formerly known as Universal Music Group International (UMGI)) operates offices in London.[125]. Such forward-looking statements are made as of the date of this press release. In June 2018, Universal Music Japan announced an exclusive license agreement with Disney Music Group. Tencent's ultimate largest controlling corporate shareholder, Naspers, is headquartered in Cape Town, South Africa. Universal Music Revenue $9 B Employees 9,215 Primary Industries Holding Companies & Conglomerates Media & Internet Music Production & Services Funding History Universal Music Group raised a total of $3.5 B in funding over 1 rounds, and is a public traded company. The biggest music business story of several years is waiting in the wings, and it could be even more climactic than anticipated. "[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. UMG has offices in New York City where Island Records, Def Jam Recordings, Republic Records, Verve Label Group, and Spinefarm Records are headquartered. 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]. The turnover of UMG in 2010 cost $5584 million. 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 The music business is kind of bored. UMG's corporate headquarters are located in Hilversum, Netherlands and its operational headquarters are located in Santa Monica, California. 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. On 1 January 2011 he became CEO of Universal Music Group, and then chairman on 9 March 2011, succeeding Doug Morris. Grainge became the chairman of the UK division of the Universal Music Group, and then in 2005 of Universal Music Group International. Whereas his annual yearly salary and his monthly salary are not publicly known. [53] With EMI's absorption into Universal Music complete, its British operations consist of five label units: Island, Polydor, Decca, Virgin EMI and Capitol. [151] The music video was also uploaded to YouTube, but was removed following a takedown request by UMG. enter the sultry sleepless world of "Lavender Haze." watch now. The initiative is meant to create change for representation of women and underrepresented racial and ethnic groups in the media industry. 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). [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. Note: % YoY indicates % change year-over-year; % const. The Guardian pointed out that Grainges bonus comes from Universal Musics 2021 IPO as well as Tencent buying a 10% stake in the company. No wonder the worlds biggest music rights companies saw bottom-line profits soar in 2020; their spending presumably decreased. No wonder Som Livre, Brazils biggest domestic label, is believed to be close to selling up for around $300 million. UMG's first major film production was Amy, which won an Oscar for Best Documentary,[69] while taking part in Kurt Cobain: Montage of Heck and The Beatles: Eight Days a Week documentaries. Spotifys recent expansion into over 80 new territories), nibbling into the overall streaming market share, believed to be close to selling up for around $300 million, Report: Sony Music Knew Of Australia Workplace Abuse Allegations For Decades, Kenny Beats Wants to Teach You About the Music Biz, BMG's CEO Has a Grand Idea for the Music Industry: Don't Screw Over Artists, Another Blockbuster Deal: Tina Turner Sells Entire Catalog to BMG, The National Stay Up Late to Perform 'Tropic Morning News' on Fallon, David Lindley, Multi-Instrumentalist Who Shaped the Sound of Soft Rock, Dead at 78, Suki Waterhouse Won't Take Romance for Granted on New Single 'To Love', Travis Barker Says His Finger Ligament Surgery Was a 'Success' After Postponing Blink-182 Tour. One Thing At A Time - the new album. [106], The company and Lego Group announced a music product partnership on April 26, 2020. 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. 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. 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. All non-IFRS measures should be considered in addition to, and not as a substitute for, other IFRS measures of operating and financial performance as presented in UMGs Condensed Consolidated Financial Statements and the related Notes, or as described in this press release. 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. Operating profit improved 14.6%, or 15.4% in constant currency, to 1,399 million in 2021 driven by the growth in revenues. [16][17] The Decca Record Co. Ltd. of England spun American Decca off in 1939. [44][45], Universal Music Group completed their acquisition of EMI on September 28, 2012. This time, look at the surprising, out-of-the-blue valuation of Universal Music Group at over $40bn - backed up by Vivendi's CEO. UMG is the largest record company worldwide and parent company . [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. 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. Artist/songwriter agreements with music publishers today expire with relative regularity. [20][21] In 1995, Seagram acquired 80 percent of MCA from Matsushita. The company went public on September 21, 2021, at a valuation of 46 billion. Excluding these items, Adjusted EBITDA for the quarter was 503 million, up 9.8% year-over-year, or 6.8% in constant currency, driven by revenue growth. 27 would focus on musicians at the age of 27, an age at which several iconic musicians died. 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 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. Last 30 days: $ 365, February 2021: $ 196, January Toggle navigation. indicates % change year-over-year adjusted for constant currency. derivative financial instruments, net (assets and liabilities) where the underlying instruments are Financial Net Debt items, as well as cash deposits securing borrowings included in the Consolidated Statement of Financial Position under financial assets; the value of borrowings at amortized cost as reported in the Consolidated Statement of Financial Position. [60] In May 2013, Japanese company SoftBank offered $8.5billion to Vivendi for the acquisition of UMG, but Vivendi rejected it. At Universal Music Group (EURONEXT: UMG), we exist to shape culture through the power of artistry. Aerosmith Hands Entire Catalog to Universal Music Group, considering a proposal to spin out 60% of the worlds biggest music company. "[14] UMG has signed licensing agreements with more than 400 platforms worldwide. In a research note earlier this month, Morgan Stanley analysts Omar Sheikh and Patrick Wellington suggested that UMG could now carry a fair value worth of around $49 billion. Music Publishing EBITDA of 307 million was up 14.1% year-over-year, or 16.3% in constant currency. [147] UMG archivist Patrick Kraus assured that the Impulse! Free Cash Flow, as we calculate it, may not be comparable to similarly titled measures employed by other companies.
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