All posts tagged: Universal Music Group

Taylor Swift Deal May Bring Millions to Artists on Spotify Stock Sale

Taylor Swift Deal May Bring Millions to Artists on Spotify Stock Sale

Published by Daniella Wilson

Universal Music Group confirmed Wednesday that it would be selling half of its 3 percent stake in Spotify — a deal worth as much as $1.4 billion based on the streaming service’s valuation as of April 29 — and thanks in part to Taylor Swift, all of UMG’s roster of artists stand to be cashing in too. How Swift has anything to do with this windfall is a bit complicated, and goes all the way back to the major record labels’ original licensing agreements with Spotify from the late 2000s, which got the companies stock in the then-fledgling streaming service. Credit where it’s due, as Music Business Worldwide reported back in 2016, with no legal requirement to do so, Warner Music Group and Sony Music Group had both committed to doling out some of the profits to the artists if they sold their Spotify stock. UMG confirmed it’d do the same nearly two years later, about a month before Spotify’s IPO. Taylor gets more crucial here in the specifics. Sony sold first, selling off a …

UMG Issues Statement on Bill Ackman Acquisition Proposal

UMG Issues Statement on Bill Ackman Acquisition Proposal

Published by Daniella Wilson

Universal Music Group issued a brief statement Monday addressing Bill Ackman‘s proposal to acquire the record company, stating that the company’s board of directors and advisors “will review the proposal in accordance with its fiduciary duties and analyze its implications for shareholders, employees, artists, songwriters and other stakeholders.” “The Board of Directors has complete confidence in UMG’s strategy and the leadership of Sir Lucian Grainge and the Company’s management team,” the company said. “UMG will have no further comment on the proposal until the Board of Directors completes its review.” Ackman’s Pershing Square Capital Management had unveiled its proposal late Monday, in a takeover bid worth about $63 billion. Ackman argued UMG’s stock is undervalued despite its status as the world’s largest music company, citing several factors including a delay to get UMG listed on the U.S. stock market (the company is currently traded out of Euronext and Ackman had pushed to get a U.S. listing too), as well as “suboptimal shareholder investor relations, communications, and engagement.” “Since UMG’s [stock market] listing, [UMG chairman and CEO] Sir …

Bill Ackman’s Pershing Square Offers to Buy Universal Music Group

Bill Ackman’s Pershing Square Offers to Buy Universal Music Group

Published by Daniella Wilson

Bill Ackman’s Pershing Square Capital Management unveiled a non-binding proposal to the board of directors of music giant Universal Music Group (UMG), the musical home of such stars as Taylor Swift and Kendrick Lamar, to acquire all of its outstanding shares in a mega-transaction valued at around $63.5 billion, “together with a value creation plan designed to deliver significant benefits to UMG stakeholders.” Pershing, which has owned a stake in the music major since 2021, said its offer values each share of UMG at €30.40, putting the total value of UMG under the overall deal at about €55 billion, or $63.5 billion. “Since UMG’s [stock market] listing, [UMG chairman and CEO] Sir Lucian Grainge and the company’s management have done an excellent job nurturing and continuing to build a world-class artist roster and generating strong business performance,” said Pershing Square CEO Bill Ackman. “However, UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business and importantly, all of them can be addressed with this …

UMG’s Globe Originals in Scripted Content Push With Multi-Hyphenates

UMG’s Globe Originals in Scripted Content Push With Multi-Hyphenates

Published by Daniella Wilson

Universal Music Group U.K.’s Globe sync and brand business has a long track record of placing music into films, TV shows, video games, advertising, and other content, plus making artists brand ambassadors. But it has also started pushing into original films via Globe Originals, a unit whose mission is to develop films with music as the creative engine, “opening opportunities for artists in new avenues.” Globe Originals has collaborated on such film and TV productions Amy, Steven Knight’s This Town for the BBC, Mary McCartney’s If These Walls Could Sing for Disney+, the BAFTA-nominated and Irish Film & TV Awards (IFTA)-winning short film Nostalgie, and the Oscar-nominated and BAFTA-winning Hamnet. It has also worked with such directors and producers as Quentin Tarantino, Richard Curtis, Danny Boyle, and Faye Ward.   Led by president Marc Robinson, the London-based Globe has recently been expanding into the U.S. and looking beyond its traditional business borders to open up new opportunities for multi-talented creatives ready to branch out, such as via a just-unveiled partnership with Hollywood producer and long-time Quentin Tarantino collaborator Shannon McIntosh (Once Upon a Time in Hollywood, The Hateful Eight) focused on a slate of music-driven feature …

Fred Armisen to Host CNN Series on UMG Archives (Exclusive)

Fred Armisen to Host CNN Series on UMG Archives (Exclusive)

Published by Daniella Wilson

Fred Armisen has been tapped for a new series collaboration between CNN and Universal Music Group, The Hollywood Reporter can exclusively reveal, with the comedian set to give viewers a behind-the-scenes look at UMG’s extensive archives. UMG is the world’s largest music company, and the record company’s catalog includes some of the most iconic songs and albums of all time, from older classics like the catalogs of Blue Note and A&M Records, to the Beatles and the Beach Boys. The series, which doesn’t have a title, will give a rare look at UMG’s archives housed at the famed Iron Mountain facility in Pennsylvania. A press release for the upcoming show promises to “unearth priceless artifacts, encompassing original recordings, master tapes, rare photos and performances, alternative album art and music videos, many of which have not been seen or heard publicly before.” The series, produced by UMG’s Polygram Entertainment, TIME Studios and Known Originals, is set to premiere later this year through CNN Originals’ programming slate, CNN and UMG said. “This series opens the doors to one of the …

Universal Music Buys 30 Percent Stake in India’s Excel Entertainment

Universal Music Buys 30 Percent Stake in India’s Excel Entertainment

Published by Daniella Wilson

Universal Music India has taken a significant minority stake in leading Indian production banner Excel Entertainment, deepening its push into India’s fastest-growing entertainment market and forging a new pipeline between the country’s local film content and global music distribution. The deal, unveiled on Monday, values Excel at ₹2,400 crore (approximately $290 million). Under the agreement, Universal Music India — a division of Universal Music Group — will acquire a 30 percent equity interest, while partnering with the Mumbai-based studio across film, series, music and emerging formats. The two companies described the pact as a strategic alliance designed to accelerate Excel’s growth while strengthening UMG’s position in India’s music-driven screen economy. As part of the collaboration, UMG will receive global distribution rights for all future original soundtracks attached to projects produced or controlled by Excel. The companies will also launch a dedicated Excel music label, distributed worldwide by UMG, while Universal Music Publishing Group becomes Excel’s exclusive publishing partner — opening the door for UMG and Universal Music India artists to appear across Excel titles. “This …