Universal Music Group: Last News

Universal Music Group (UMG) has announced their plans for 2024, including job cuts and an “artist-centric” streaming model.A report by Bloomberg alleged that the company was planning to lay off hundreds of jobs within the first quarter. Anonymous sources claimed that the recorded music department would suffer the most cuts.

Universal Music Group over unpaid Spotify royalties has been dismissed. In January, it was confirmed that the duo had sued Universal Music Group (UMG) in a class action lawsuit. They were claiming that UMG owed them and other artists the sum in unpaid royalties.

“Eras Tour” has attracted enough fans to help boost hotel and restaurant revenue in cities across the world, and even contribute to concert ticket inflation, a phenomenon that some economists have termed “Swiftflation.”“Recently, Taylor Swift became the very first woman in history to have four albums in the top 10 simultaneously, including this week’s number one,” the company’s chief executive, Lucian Grainge, told analysts on a conference call.Universal Music’s merchandising revenue grew 12% to 157 million euros ($173.77 million) in the April-June period, also fueled by a strong performance from Swift, the group said.This more than offset a decline in Universal Music Group’s touring revenue from the outsized growth recorded in 2022 as COVID-19 touring bans were lifted, it added.Total revenue was 2.7 billion euros in the quarter, while its margin on adjusted earnings before interest, tax, depreciation and amortization (EBITDA) stood at 21.9%, the company reported.Universal Music expects recent price increases at Spotify to boost revenue starting from the fourth quarter and into 2024, its chief financial officer, Boyd Muir, said on the conference call.Spotify had on Monday raised prices for its premium plans across several countries including the US and Britain.Major labels like Universal Music grab the overwhelming majority of Spotify’s revenue and are the main beneficiaries of the streaming firm’s strong user growth.Apart from Swift, other top sellers in the second quarter were South Korean boy band Seventeen, King & Prince, Morgan Wallen, and Stray Kids, Universal Music said.

At a Wednesday hearing in the U.S. Capital, Universal Music Group petitioned the Senate’s intellectual property subcommittee to enact legislature protecting artists and rights holders against AI copyright infringement, Music Business Worldwide reports.

video on TikTok, which has garnered 4.1 million views and 464,400 likes.Turns out, a small batch of the vinyl LPs were “incorrectly pressed.” Fans who’d purchased the duds got quite the scare when they heard British electronica rather than the hits of the 33-year-old singer-songwriter.And, in a darker twist, lyrics about “flakes of flesh” and “endless rows of sardines” accompanied the music.“At first, I thought maybe the vinyl had a secret message from Taylor. But when I flipped to the B-side, it started saying ‘There’s 70 billion people on earth, where are they hiding?’ I started to get a little scared,” TikToker Rachel Hunter — @mischief_marauder on TikTok — told the BBC.

WHITE MUSIC EXECS LEFT IN A ROOM, UNSUPERVISED:let's create an artificial rapper who says the n word & simulates our deepest fetishes & fantasies about blackness & materialism & he will never get arrested unless we want him to which is a fun storyline let's try that pic.twitter.com/9nDdqXdpbw“We find fault in the lack of awareness in how offensive this caricature is,” music non-profit Industry Blackout wrote on Tuesday. “It is a direct insult to the black community and our culture.

told Bloomberg the songs are worth more than $200 million, with others telling the New York Times that it could be more than $300 million.That would make it likely the biggest acquisition ever of the music publishing rights of a single act, the paper said.Dylan — who had previously controlled most of his own songwriting copyrights — sold more than 600 copyrights spanning 60 years, Universal said.That includes classics that made him an icon from his time in New York in the early 1960s — such as “Blowin’ in the Wind” and “The Times They Are a-Changin’” — to the 79-year-old songwriter’s latest album this year, “Rough and Rowdy Ways.”“It is no exaggeration to say that his vast body of work has captured the love and admiration of billions of

Kanye West has promised to help Taylor Swift acquire control of her master recordings, as he continues to speak out against what he descries as unfair deals for artists in the music industry.

Kanye West declared himself “the new Moses” as he compared the music industry and NBA to “modern day slave ships” and ruled out releasing a new album on his current record label.

Taylor Swift has been named the best-selling international music act of 2019 in a report issued by IFPI, the organization that speaks for the music industry around the world. The honor reflects strong global sales for her seventh album, “Lover,” which was released in August. Swift’s last time topping the IFPI’s yearly top 10 was back in 2014, the year her blockbuster “1989” came out.