While many may believe that major labels have one foot in the grave, some recent revenue figures out from Universal Music Group tell a different and far more lucrative story, with UMG raking in over 7.1 billion over the past year, thanks to major artists like Drake, Taylor Swift, and…
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UMG Revenue Grew 10% In 2018, Streaming Up 37%
Universal Music Group revenue grew 10% to $6.8 billion USD in 2018 when compared to 2017. The “A Star Is Born” soundtrack, Drake, Post Malone, The Beatles and XXXTentacion were the yer’s best sellers for the world’s largest music group. Recorded music revenues grew 9.8% led by streaming revenues which…
Universal Music Group (UMG) Posts Over $3 Billion in Streaming Revenue in 2018
Streaming continues to strengthen Universal Music Group’s bottom line. Ahead of its proposed sale, Vivendi has posted a great profit from its subsidiary, Universal Music Group (UMG). Across labels, record sales, publishing, merchandising, tours, and mo…
UMG Acquires Independent Music Distributor Ingrooves
Universal Music Group is acquiring independent music distributor Ingrooves Music Group. Ingrooves will continue to operate as a standalone company led by CEO Bob Roback. UMG has been a minority investor in Ingrooves since 2006. The acquisition of Ingrooves is expected to close before the end of the current quarter…
Five Artists File Two Class-Action Lawsuits Against Sony Music and UMG
Will Sony Music and Universal Music Group accept returning copyrights to artists? If so, will they face even more lawsuits? Two major labels have now come under fire in a New York courtroom. Five musicians have filed two separate class-action lawsuits…
Musicians File Class Action Suit Against UMG And Sony To Reclaim Copyrights
Five musicians filed class action lawsuits against Sony Music Entertainment and Universal Music Group earlier this week in an attempt to recapture ownership to the copyrights of their hit songs and recordings. The class actions filed in Manhattan federal court claim that U.S. copyright law ‘permits recording artists to terminate…
WED. BRIEF: Spotify Acquires Podcasters, Reports Strong Q4 • UMG, Sony Face Class Action Suit • Raised In Space • More
WEDNESDAY 2.6.19
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Kanye West Sues Roc-a-Fella, Def Jam, UMG, EMI and More
Kanye West has filed a pair of lawsuits against EMI Music Publishing and Roc-a-Fella Records, UMG Recordings, Def Jam and merchandiser Bravado International Group in an apparent attempt to free himself of all contractual obligations. The complaints were filed on Friday (January 25) in Los Angeles Superior Court, according to…
Who Will Buy Universal Music Group? [Mark Mulligan]
Vivendi has been clear that it would like to sell up to half of its Universal Music Group at a valuation of between $22 billion and $33 billion, and an army of investment bankers are out courting potential buyers. MIDiA’s Mark Mulligan looks at who may want and can afford…
Who Will Buy Universal Music Group? [Mark Mulligan]
Vivendi has been clear that it would like to sell up to half of its Universal Music Group at a valuation of between $22 billion and $33 billion, and an army of investment bankers are out courting potential buyers. MIDiA’s Mark Mulligan looks at who may want and can afford…