September 21, 2014 10:14 AM ET

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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

Universal Music Group, Inc. Reports Unaudited Earnings Results for the First Half Ended June 30, 2014

Universal Music Group, Inc. reported unaudited earnings results for the first half ended June 30, 2014. For the period, the company’s revenues were EUR 2,003 million, down 6.0% at constant currency compared to the first half of 2013. Excluding the impact of Parlophone Label Group (divested in 2013 as part of the EMI Recorded Music acquisition remedies) and at constant currency, UMG's revenues were down 3.2% compared to the first half of 2013 due to the accelerated transformation of the recorded music industry and the phasing of key releases. EBITA was EUR 153 million, up 14.5% at constant currency (+7.0% at actual currency) compared to the first half of 2013 and up 41.9% excluding last year's contribution from the divested Parlophone Label Group's. The favorable performance reflected the overhead savings and lower restructuring costs, partially offset by lower revenues.

Investors Reportedly Ends Sales Talks To Sell VEVO

The owners of VEVO LLC have ended the sales process after deciding that the five-year-old property is poised for continued rapid growth, several sources told The Post. The owners are Universal Music Group, Inc., Sony Music Entertainment Inc., Google Inc. (NasdaqGS:GOOGL), and Abu Dhabi Media Company PJSC decided in recent days that they’d prefer to keep their holding as is and ended all sale talks, sources said.

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.

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