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 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
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
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
Universal Music Group has signed a global, multi-year licensing deal with Facebook, marking a big legal development for how and where music might start showing up on the social network. Universal is the first major label to ink a licensing deal with Facebook, and the arrangement will allow the creation of music features across Facebook’s properties. Continue Reading
YouTube has signed a new licensing deal with Universal Music Group. UMG did say that the deal would lead to “growing compensation” for its artists, but neither company has disclosed details. “We’re thrilled to strengthen our partnership with Universal Music Group,” YouTube CEO Susan Wojcicki said. Continue Reading
Universal Music Group has posted streaming revenue of €1.44 billion ($1.6 billion) in the first nine months of 2017, up 40.8% over the same period. In just the third quarter, the label’s streaming revenue reached €481 million ($535 million). Continue Reading
Universal Music Group announced the creation of an accelerator engagement network designed to help the major label build ties with the next wave of music startups. Up to ten programs will participate in the first year of the project. UMG will provide industry expertise during the application process as well as mentorship to companies focused on digital music that are accepted into the accelerators. Continue Reading
Universal Music Group saw streaming grow to a larger portion of its second-quarter results. The major label’s EBITDA for the first half of 2017 rose 61.6% to €286 million over the year-ago period. Total revenue jumped 15.2% to €2.67 billion euros ($2.98 billion). Continue Reading
Brief news items and worthy reads from around the web: Sirius XM in the royalty spotlight. Judge nullifies UMG’s Prince deal. Continue Reading
Universal Music Group announced a new hire for its digital efforts. The label has brought on Tuhin Roy for the newly created role vice president of new digital business. In this position, Roy will work to forge partnerships with start-ups in the early-stage digital media sector. Continue Reading
Universal Music Group could see an initial public offering if the music industry financials continue to improve. The label is owned by Vivendi, a Paris-based media conglomerate, and the parent company is considering floating a minority stake in its music business. Continue Reading