January 17, 2017 12:23 PM ET

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Company Overview of Universal Music Group, Inc.

Company Overview

Universal Music Group, Inc., a music company, is engaged in recorded music, music publishing, merchandising, and audiovisual content in the United States and internationally. It identifies and develops recording artists and songwriters; and produces, distributes, and promotes music. The company offers a catalog of recordings and songs across every musical genre. In addition, it provides digital marketing and social media agency services to artists, brands, and festivals. Universal Music Group, Inc. was formerly known as MCA Music Entertainment Group, Inc. and changed its name to Universal Music Group, Inc. in 1996. The company is headquartered in Santa Monica, California with additional offi...

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, Chairman of Management Board and Chief Executive Officer
Age: 56
President and Chief Operating Officer
Chief Financial Officer, Executive Vice President and Member of Executive Management Board
Member of Executive Management Board, Chief Executive Officer of Universal Music France and President of Italy, Middle East & Africa
Member of Executive Management Board, Chairman of Universal Music UK & Ireland and Chief Executive Officer of Universal Music UK & Ireland
Compensation as of Fiscal Year 2016.

Universal Music Group, Inc. Key Developments

Universal Music Group Reports Earnings Results for the First Nine Months of 2016

Universal Music Group reported earnings results for the first nine months of 2016. For the period, the company reported revenues amounted to EUR 3,623 million, up 4.8% at constant currency compared to the first nine months of 2015 (+3.8% on an actual basis), driven by growth across all divisions. Income from operations amounted to EUR 391 million, up 42.4% at constant currency compared to the first nine months of 2015 (+40.8% on an actual basis). This favorable performance reflected the benefit of both revenue growth and overhead cost savings, as well as a timing-related decline in expenses, which will pick up with the release schedule. EBITA amounted to EUR 353 million, up 37.4% at constant currency compared to the first nine months of 2015 (+36.1% on an actual basis). EBITA included legal settlement income and restructuring charges in the first nine months of 2016 and 2015.

Universal Music Group Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

Universal Music Group announced unaudited earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company's revenues were €1,196 million against €1,214 million a year ago. Income from operations was €115 million against €91 million a year ago. EBITA was €98 million against €89 million a year ago. For the six months, the company's revenues were €2,315 million against €2,311 million a year ago. Income from operations was €217 million against €179 million a year ago. This favorable performance reflected both revenue growth and cost savings. EBITA was €177 million against €171 million a year ago. The company’s Revenue was up 1.6% at constant currency compared to the first half of 2015 (+0.2% on an actual basis), driven by growth across all of its divisions. Excluding a legal settlement income for the first half of 2015, revenues were up 3.0% at constant currency and perimeter.

Universal Music Group Appoints Samantha Fink as Senior Vice President of Human Resources

Universal Music Group announced that Samantha Fink has been named Senior Vice President of Human Resources, effective immediately. As a member of UMG's global HR team, Fink will oversee business partnering and employee relations, working directly with the company's label leadership and operating units around the world. She will be based at UMG's Santa Monica headquarters and report to Gautam Srivastava, Executive Vice President of Human Resources. Fink brings more than two decades of leadership experience overseeing global human resources teams in North America, Europe and Asia at companies including Moët Hennessy Louis Vuitton (LVMH), Prada USA Corp. and James Perse Enterprises.

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