Universal music group

With offices in more than 60 countries, Universal Music Group BV (UMG) is the world leader in music-based entertainment. Universal Music Group’s corporate headquarters are located in Hilversum, Netherlands and its operational headquarters are located in Santa Monica, California. They claim to exist to shape culture through the power of artistry and are a community of entrepreneurs committed to creativity and innovation. 

They own and operate an array of businesses engaged in recorded music, music publishing, merchandising, and audiovisual content in more than 60 countries. They identify and develop recording artists and songwriters, and produce, distribute and promote the most critically acclaimed and commercially successful music to entertain. 

Their collection of recordings and songs stretches back over a century and comprises the largest, most diverse and culturally rich collection of music ever assembled. 

The company says that it invests in their artists at every stage of their careers and strive to provide the most creative and commercial opportunities possible. They provide UMG artists with the latest technology to keep track of the performances of their music, both financially and from a marketing perspective. 

Universal Music Group has 15 record labels, including Interscope Records, The Island Def Jam Group, MCA Records, Inc., and Pressplay.  

Sir Lucian Grainge is Chairman & Chief Executive Officer of Universal Music Group (UMG). Grainge has spent his entire career in the music industry and has signed and worked with many worldwide stars, including ABBA, Elton John, Rihanna, The Rolling Stones and Amy Winehouse, among many others. Over the span of three decades, he has not only pioneered new approaches to the signing and development of the world’s most successful recording artists and songwriters but he has helped the development of innovative business models and partnerships with a wide range of technology and media partners around the world. His leadership has transformed UMG into the most successful company in the history of the music industry and he is widely recognized as having laid the foundation for the industry’s return to growth in recent years. 

Early history. On December 9, 1996, the company was renamed Universal Studios Inc, formally being known as MCA Inc and its music division was renamed Universal Music Group. MCA Records continued as a label within the Universal Music Group. In May 1998, Seagram purchased PolyGram and merged it with Universal Music Group in early 1999.   

In May 2004, Universal Music Group was cast under separate management from Universal Studios, when French media conglomerate Vivendi sold 80% of the latter to General Electric, who subsequently merged it with NBC to form NBCUniversal. In February 2006, Vivendi purchased the remaining 20 percent of UMG from Matsushita Electric. 

On September 6, 2006, Vivendi announced its €1.63 billion ($2.4 billion) purchase of BMG Music Publishing, the acquisition was completed on June 25, 2007. 

In June 2007, UMG acquired Sanctuary, which became UMG's entertainment merchandising and brand management division, Bravado. The company represents artists such as Justin Bieber, Lady Gaga, and Kanye West, and has partnered with retailers including, Bloomingdale's and Selfridges. 

In 2008, Universal Music Group agreed to make its catalog available to Spotify, then a new streaming service, for use outside the U.S. on a limited basis.