July 12, 2014 3:13 AM ET

Media

Company Overview of Universal Music Group, Inc.

Company Overview

Universal Music Group, Inc. discovers and develops recording artists and then markets and promotes their music across a range of formats and platforms worldwide. It discovers and develops songwriters, and owns and administers copyrights to musical compositions for use in recordings, public performances, and related uses, such as films and advertisements; sells artist and music branded products via multiple sales points including online, fashion retail, and live performances; and licenses rights to an extensive network of third-party licensees worldwide. The company was formerly known as MCA Music Entertainment Group and changed its name to Universal Music Group, Inc. in 1996. Universal Music...

2220 Colorado Avenue

Santa Monica, CA 90404

United States

Phone:

310-865-5000

Fax:

310-865-7096

Key Executives for Universal Music Group, Inc.

Chairman
Age: 54
President and Chief Operating Officer
Chief Financial Officer and Executive Vice President
Chairman of Global Operations Outside Us and Chief Executive Officer of Global Operations Outside Us
Chief Executive Officer of Vevo
Compensation as of Fiscal Year 2014.

Universal Music Group, Inc. Key Developments

SoundCloud Nears Deal With Record Labels

SoundCloud Ltd. is close to a deal with Universal Music Group, Inc. Sony Music Entertainment Inc. and Warner Music Group Corp for licenses to continue playing their songs and avoid potential legal disputes, Bloomberg reported citing people with knowledge of the matter. SoundCloud is in return negotiating offering a 3% to 5% stake to the companies as well as a percentage of future revenue, the website reported.

Universal Music Group, Inc. Appoints Susan Mazo as Senior Vice President of Global Communications

Universal Music Group, Inc. announced the appointment of Susan Mazo as senior vice president of global communications, effective immediately. Mazo's responsibilities include the company's global philanthropic efforts, major internal and external events, and special projects, as well as supporting UMG's media relations efforts. Mazo will report to UMG's executive vice president and head of global communications, Will Tanous, and will be based in the company's New York office. Prior to UMG, Mazo served as senior vice president of communications and marketing at Warner Music Group (WMG).

Universal Music Group Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Universal Music Group (UMG) announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, revenues were EUR 984 million, down 2.0% at constant currency and perimeter. This change is due to lower recorded music and merchandising sales. Revenues were down 9.8% at current currency and taking into account the impact of the Parlophone Label Group disposal in 2013. UMG's EBITA was EUR 56 million, up 72.5% at constant perimeter and currency compared to the first quarter of 2013. The favorable performance reflected the benefit of overhead savings and lower restructuring costs, partially offset by lower revenues and loss of margins from the divested Parlophone Label Group repertoire.

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