Universal Music Group, the world’s largest music company, released financial information for Q4, and full-year 2023. UMG is a Dutch-American firm operating under Dutch law and traded on the Amsterdam Stock Exchange (AMS). We look at top-line Q4 and 2023 numbers. Continue Reading
In a flaming accusatory open letter, label giant Universal Music Group verbally eviscerates TikTok for failing to meet UMG’s royalty terms. The statement is posted on the final day of an existing royalty contract between the two giants. Continue Reading
The new royalty attribution method recently deployed by Universal Music Group and streaming music platform Deezer seeks to make royalty calculation more fair. But the change is not universally applauded. Two digital distribution companies Believe and TuneCore, whose customers are mainly indie musicians, calls the system “reverse Robin Hood.” Continue Reading
In an unprecedented shift in how streaming music royalties are assessed, Universal Music Group (UMG) has reached agreement with Paris-based global streaming service Deezer. It is an artist-centric model which scales payouts upward in an attempt to reward musicians who are most favored by fans. Click for the details. Continue Reading
Universal Music Group (UMG), Capitol Records, Sony Music Entertainment, and Arista Music have filed a copyright infringement lawsuit against the Internet Archive. The heart of this confrontation is a branded section of the Internet Archive’s Great 78 Project, a streaming database of 400,000 streaming, downloadable, and shareable recordings. Click through for the whole story. Continue Reading
Chinese media conglomerate Tencent is reportedly acquiring 10% of major label Universal Music Group (UMG). The deal includes an option to own an additional ten percent within a year. The two companies have mutually benefited in the past. Continue Reading
We learn from Billboard that Ty Roberts, Chief Technology Officer of Universal Music Group (UMG) has left the company after a little more than a year. Ty Roberts’ sideways career move from Gracenote to Universal was seen by many as a significant signal that the music industry could, to some extent, reinvent itself as a technology industry — or at least a tech-flriendly, tech-fluent one. Continue Reading
One of UMG’s top execs is stepping down effective immediately. Max Hole will leave his role as the Universal Music Group International’s chairman and CEO following medical troubles. Continue Reading
After a six-month pause, the trial of UMG vs. Escape Media resumes today with a jury in place to set damages after a ruling of copyright infringement last September. Escape Media is the parent company of Grooveshark. the damages verdict could range as high as $736-million for the full statutory penalty. Continue Reading
Universal Music Group has lost two of its top digital executives this week. CEO Lucian Grainge said that UMG would “be making announcements in the coming days” in response to Wells’ exit in particular. Universal has been making some intriguing inroads into the digital space in recent months. Continue Reading
In a leaked internal memo published by Billboard, CEO and Chairman of Universal Music Group, Lucian Grainge, promised a continued commitment to artist development, and pledged to “re-design business models” as necessary. The memo comes at a time when major labels are engaged in publicized contract renewal discussions with Spotify. Continue Reading