Quick Hits: Discovery via voice, indies at SXSW, and what if Google buys UMG?
Brief news items and worthy reads from around the web: Voice assistants struggle with discovery. The new journey for indies. What if Google buys UMG? Continue Reading
Universal Music Group
Tencent Music and a buyout fund emerge as first possible buyers for Universal Music Group stake
One of the big music industry narratives this year will likely be the expected sale of up to a 50% stake in Universal Music Group. Two very different potential buyers have already emerged. Reuters reported that Tencent Music Entertainment and U.S. buyout fund KKR are each exploring bids for the major label. Continue Reading
Universal sees Q4 revenue up thanks to streaming
Universal Music Group’s fourth-quarter results have been posted by parent company Vivendi, capping a big year and leaving any potential buyers with more information about what the label has to offer. UMG’s revenue for the period totaled €6.023 billion. Continue Reading
Universal Music Group could get new ownership this year, changing the face of the music industry
After lots of rumbles and rumors, a seismic change could be on the horizon for the major labels. Vivendi appears to be moving ahead with plans to sell up to a 50% stake in Universal Music Group by the end of 2019. If this sale does happen, it will cause a ripple effect across the music industry. Continue Reading
Universal Music sees another quarter of streaming growth, with Liberty Media considering acquisition
Universal Music Group has reported its earnings for the third quarter as rumors swirl that the major label could be moving toward a sale. Revenue rose 13.5% on-year to €1.495 billion ($1.732 billion) for the period. Parent company Vivendi said in the earnings update that it is in talks with about 15 banks, looking for assistance in finding a strategic partner for the major label. Continue Reading
Universal Music Group licenses library to Africa’s Boomplay Music
Universal Music Group has licensed its catalog to Boomplay Music, a top streaming service in Africa. Boomplay will add UMG’s library to its current catalog of 2 million tracks. The company currently boasts more than 36 million listeners across Nigeria, Kenya, Ghana, Tanzania, Rwanda, Uganda, and Zambia. Continue Reading
Universal Music Group and Mixcloud ink global licensing deal
Universal Music Group has signed a licensing agreement with Mixcloud. The global agreement covers use of UMG’s music in markets excluding China and Japan. The deal includes payments for past uses of UMG’s catalog. Continue Reading
UMG signs 7digital to power bespoke artist portals
Universal Music Group has entered a deal with B2B music provider 7digital to create custom online stores for the major label’s artists. Under this arrangement, listeners can pay for features such as artist-curated playlists, new singles, merchandise, and other products. Continue Reading
Universal Music Group parent company announces plan to sell half of the label
The parent company of Universal Music Group has been considering options for its next steps with the major label, and has landed on the decision for a sale. French media conglomerate Vivendi has announced that it plans to sell half of UMG and is seeking potential strategic partners. Continue Reading
Universal Music Group sees Q1 revenue up on streaming growth
Universal Music Group reported first-quarter revenue of €1.22 billion, down nearly 5% from €1.28 billion in the year-ago period. Recorded music revenue for the label rose 5.9% at constant currency rates. Continue Reading
Universal will share proceeds with artists when it sells Spotify stock
Spotify’s plans for a direct public listing aren’t just impacting the streaming service. The move also means changes afoot at Universal Music Group, which owns stock in company. Universal has now made a public statement that when it sells its Spotify stock, the label will share the proceeds with its artists. Continue Reading
Revenue up 10% for Universal after a year of landmark deals and streaming growth
Universal Music Group posted revenue of €5.673 billion in 2017, up 10% from the previous year. Revenue from streaming and subscriptions grew 35.4%, which offset declining revenue from both downloads and physical sales. Continue Reading