Ricardo DeAratanha/Los Angeles Times / MCT. “The success, the delivery, the views, the streams, the physical sales – … Marc Geiger, the Lollapalooza co-founder who heads William Morris Endeavor's music division, predicted at a recent industry conference that music subscription's relatively nascent revenue stream would reach $72 billion a year within a decade. Its roster boasts some of the biggest names in music, and its unprecedented success in 2019 is strikingly significant. Grainge, however, had no such hesitation, and sensing a window opening he swooped in and climbed right through it. Sir Lucian Grainge, Chairman and CEO of Universal Music Group, said, “As … 1. Universal's take of Geiger's "conservatively" projected industry total of $74 billion a decade from now, based on the label's 40% market share, comes in just shy of $30 billion. Capital expenditures had suffered the most, as investments in the long-term health of either business would have reduced short-term earnings and, by extension, lower the purchase price one of them might have fetched from the other. The deal was approved in September 2012, in part because he argued that EMI's sale to Universal was the only way to make the smallest and sickest of music's major labels better and thus lift the entire industry. Billboard magazine named Grainge as the most powerful person in the music business on four occasio… Lucian Charles Grainge, CBE, (born 29 February 1960) is the chairman and chief executive officer of Universal Music Group. All it takes to get there, he said, is 500 million customers paying an average of $12 a month. Here is the press release from Universal Music Publishing. Copyright © 2021 The Gleaner Company (Media) Limited. Lucian Grainge is sitting crosslegged on his office sofa, twiddling his fingers and trying not to sound irritated by questions about the role of big business in the music industry. Citigroup, which took over EMI from previous owner Terra Firma Capital Partners after it defaulted on debt the bank held, had reservations as well. That Warner failed to acquire EMI is partially attributable to its own sale, for $3.3 billion, in July 2011. What's more, the $1.1 billion in revenue that IFPI attributed to subscriptions for streaming music in 2013 represents a year-over-year increase in excess of 51%. Forbes - When I read in the Wall Street Journal that Bob Dylan had sold his entire songwriting catalog, I immediately wished that I had been in on the tax planning for that. Grainge has worked in the music business for his entire career. Its private-equity investors, whose holding periods seldom exceed five years, were reluctant to make capital improvements that would outlive their ownership. So, too, does his early and successful courtship of Silicon Valley, as evidenced by Apple CEO Tim Cook accompanying Grainge to a recent industry event, a community as responsible as any for music's accelerating recovery. A representative for Universal Music Group, whose roster of artists range from Rihanna and Katy Perry to Imagine Dragons and Mumford & Sons, said Grainge was not available for comment. Karp, in a personal letter to Billboard members on Monday, noted that “our thoughts are with him, his family and his UMG colleagues this week, as they are with countless musicians and the touring professionals who are facing the dire prospect of a month or more without income as concerts grind to a halt across the globe”. "The service is more like a utility.". According to ‘financial bible’ Forbes, in an article headlined ‘Universal CEO Lucian Grainge’s Coronavirus Diagnosis Shakes Suddenly Imperilled Music Business’, “ News of Grainge’s diagnosis has put a human face to the peril in which the music business suddenly finds itself, in terms of both immediate personal safety and macro trends.”. Lucian Grainge, Producer: Protest the Hero: Gallop Meets the Earth. After all, global music sales have fallen from their peak of $27.3 billion in 1999 to just $15 billion in 2013, a decline of more than 40%. He is a producer, known for Protest the Hero: Gallop Meets the Earth (2010), Brit Awards 2005 (2005) and The Black Godfather (2019). Here is the press release from Universal Music Publishing. Grainge then highlighted other kinds of achievements that his company can tout, taking action during the year’s multitude of crises: “organizing, volunteering, educating, donating,” as he listed off, detailing how Universal responded to the pandemic, the nation’s racial reckoning and the election. Interestingly, Forbes also notes that Grainge, who, according to the Billboard article, was undergoing treatment at Ronald Reagan UCLA Medical Center in Los Angeles, reportedly celebrated his 60th birthday in late February at a Palm Springs bash with huge names in the industry present. But the two labels tried and failed to agree to terms not once, not twice, but five different times. Independent record labels, consumers, even rival major record labels Sony Music and Warner Music were against the deal. Forbes - When I read in the Wall Street Journal that Bob Dylan had sold his entire songwriting catalog, I immediately wished that I had been in on the tax planning for that. Clive Davis was born in 1932, in New York. The same tie-up also produced 10 of the top 10 on Billboard's Hot 100 list for Sept. 13. A lot had to fall into place, obviously, before Grainge could secure for Universal a deal that in some markets took its share to more than 50%. Grainge wasn't just being audacious by inserting into the deal what is known in merger and acquisition parlance as a "hell-or-high-water clause." Lucian Grainge Bio/Wiki, Net Worth, Married 2018 Lucian Charles Grainge, CBE, (born 29 February 1960) is the chairman and chief executive officer of Universal Music Group. The IFPI Global Recording Artiste of the Year Award and top 10 chart is embraced by industry leaders as the only ranking to accurately measure consumption across all formats (including streaming channels, digital and physical album and singles sales) and all countries. Our authors will teach you which items to build, runes to select, tips and tricks for how to how to play Lucian, and of course, win the game! He urged Universal to contact him but then said he would not speak with UMG chairman-CEO Lucian Grainge, insisting he would not talk with anyone at the sub-billionaire level. These music services pay, on average, about 75% of their revenue for the content supplied by artists, labels and publishers, of which Universal is the biggest provider. The magazine promised to put out a special COVID-19 feature which will examine the effects on every part of the music world, highlighting both the challenges and opportunities these unsettling, new global conditions present. He bet his career on acquiring rival record label EMI in 2011, and now that deal is paying off big time. A member of the RJRGLEANER Communications Group. Over the course of his career, he has worked with artists including Lady Gaga, Amy Winehouse, ABBA, Eurythmics, Rihanna, Sam Smith, Take That, Psychedelic Furs, The Rolling Stones, Sting, Jamie Cullum and Andrea Bocelli. Lucian Grainge could single-handedly end a lot of people’s careers, but even Lucian could be forced out. Para saber mais sobre nossa política de cookies, acesse link. 1 on the Billboard Power 100 chart, and the magazine, long regarded as the ‘bible’ in the entertainment industry, also selected Grainge as its ‘Billboard Executive of the Decade’. Not only is a subscriber enlisted by one of these music service providers likely to stay — in the same way a Netflix subscriber is likely to stay — but in doing so is likely to become a constant and continuous source of revenue. See Lucian Grainge's compensation, career history, education, & memberships. And for those who think his customer count is optimistic, Geiger pointed to such platforms as Baidu (531 million users), Facebook (1.23 billion members), and Google (6 billion searches a day). Aided by artists annexed through its EMI acquisition, Universal accounted for nine of the Top 10 songs on Billboard's weekly digital chart for Aug. 18. Also, in 2019, for the first time in more than a decade, UMG led all of the world’s top five music markets, namely, the United States, Japan, UK, Germany and France. Digital disruption played a role, too, not only by lowering barriers to entry into music's longstanding oligopoly but by making Apple's iTunes a bigger player in the business than any one label. 3 MUSIC: Lucian Grainge Although most of the names on this list are familiar to some degree, the 54-year-old chairman and chief executive of Universal Music Group is more of an unknown. Moreover, because analysts value Universal as being worth between 1.0 and 1.3 times annual sales, its enterprise value in 10 years stands to be closing in on $40 billion. Sir Lucian Grainge, Chairman and CEO of Universal Music Group, said, “As … Billboard, in the letter, acknowledged that the live music industry is “grappling with unprecedented uncertainty right now,” and pledged their commitment “to providing the news, information and insight to help it come through this pandemic and emerge healthy”. Indeed, according to IFPI, more than 28 million consumers paid for a music subscription in 2013, up from 8 million in 2011. Lucian has 3 jobs listed on their profile. In this context, at least, Grainge's picking up EMI for less then $2 billion looks very smart indeed. Over the course of his career, he has been instrumental in the careers of artists such as Amy Winehouse, ABBA, Eurythmics, Mika, Duffy, Take That, Psychedelic Furs, Sting, Jamie Cullum and Andrea Bocelli. But perhaps the biggest factor leading to Grainge's career-defining deal was the failure of Warner Music and EMI to seal one of their own. By Rupert Steiner for the Daily Mail. Short Biography. See the complete profile on LinkedIn and discover Lucian’s connections and jobs at similar companies. That Grainge's EMI bet — which added such iconic labels as Blue Note, Capitol and Virgin, as well as such incomparable artists as the Beatles, the Beach Boys, and Frank Sinatra to Universal's stable — is paying off is owed in part to the rise in popularity of music streaming services. (EMI's music-publishing division was sold separately, for $2.2 billion, to a group headed by Sony/ATV Music Publishing, Sony Corp.'s joint venture with the estate of Michael Jackson.). Former chairman/CEO of Universal Music International Lucian Grainge was promoted to CEO of the company. Caso não concorde com o uso cookies dessa forma, você deverá ajustar as configurações de seu navegador ou deixar de acessar o nosso site e serviços. View Lucian Forbes’ profile on LinkedIn, the world's largest professional community. At Warner, says a second source, the negligence was mostly limited to infrastructure. LUCIAN GRAINGE INTERVIEW: Universal mogul on how to make pop music work in the digital age. Says a source privy to many of the failed merger talks between the industry's perennially star-crossed lovers, "Each side kept thinking, OK, we'll fix whatever's wrong with our company just as soon as we get this merger behind us." But now a label run by Elliot Grainge, son of Universal Music CEO Lucian Grainge, is capitalizing off of an artist who fed the disproportionately Black prison industrial complex and … Sir Lucian Charles Grainge CBE (born 29 February 1960) is the chairman and chief executive officer of Universal Music Group. But at EMI, the withholding of capital went beyond infrastructure to the company's core. "EMI stopped being a frontline participant in signing and developing new artists," says the second source. The only one certain that the deal would get approval was Grainge. Sir Lucian Charles Grainge (born 29 February 1960) is the chairman and chief executive officer of Universal Music Group. The terms of that agreement, brokered by Lou Levy of Leeds Music Publishing, met young Dylan’s approval. Lucian Charles Grainge, CBE, (born 29 February 1960) is the chairman and chief executive officer of Universal Music Group. Grainge, his Wikipedia bio states, was born on February 29, 1960. Over the course of his career, he has been instrumental in the careers of artists such as Amy Winehouse, ABBA, Eurythmics, Rihanna, Sam Smith, Take That, Psychedelic Furs, The Rolling Stones, Sting, Jamie Cullum and Andrea Bocelli. Champion guides for the League of Legends champion Lucian.Find the best Lucian build guides for S11 Patch 11.2. Speaking during his opening address this morning, Grainge also appeared to nod towards the recent news that UMG parent Vivendi is seeking a strategic partner (or two) to buy a minority stake in Universal. On March 2, IFPI, the global organisation that represents the recorded-music industry, published its annual Top 10 Global Recording Artistes for 2019 and eight of the 10 were UMG artistes. And now Universal is not only positioned to dominate the music industry well into the future but also to grow into an extremely valuable company for Vivendi. I’ve worked with and managed teams who’ve created a flourishing [Latin music] marketplace for many years. He’s a manufacturer, known for Amy (2015), The 56th Annual Grammy Honours (2014) and Brit Honours 2005 (2005). When we featured West on the cover of Forbes last summer, delving into his incredible success with Yeezy, he seemed pleased at first. The music industry's hopes that digital sales would eventually make up for the decline in CD sales is clearly not going to happen either, with domestic digital sales last year experiencing a 5.7% decline, the first drop since Apple's iTunes came on the scene in 2003. It's still early days, too, as market newcomers Beats Music and iTunes Radio are just now gaining traction. Over the course of his career, he has been instrumental in the careers of artists such as Amy Winehouse, ABBA, Eurythmics, Mika, Duffy, Take That, Psychedelic Furs, Sting, Jamie Cullum and Andrea Bocelli. As a result, regardless of what the rest of his tenure as Universal CEO holds, Grainge will go down as the master architect of what is likely to be the last big deal in the music business. Grainge later replaced him as chairman on March 9, 2011. Net Worth and Insider Trades. Sir Lucian Grainge, UMG. What this means for Universal is a matter of simple math. Kytarista Brian May a bubeník Roger Taylor nejsou jen skvělými hudebníky a členy jedné epické kapely, ale očividně také dobrými podnikateli, když přišli s nápadem oživit značku Queen filmem Bohemian Rhapsody. Beating its chest as “the world leader in music-based entertainment”, information on their website states that UMG had more artistes in the International Federation of the Phonographic Industry’s (IFPI) top 10 global artistes of the year in 2019 than any record company since the IFPI started tracking these figures in 2013. “To that end, please send us your stories, your coping strategies, your inventive new business ideas, and your calls to action – we want to share your wisdom with our community at a time when we’ve never needed each other more. “It’s great to see the industry growing and I’m proud that UMG is at the center of that growth,” he said. As the source privy to the Warner-EMI merger talks, who has been a colleague of Grainge's since 1990, put it, "He has an instinctive ability to go for the jugular and to pounce when the opportunity is just right.". To leave it at that, though, is to miss the point. "Once you get their credit-card number, that's it," says Brian C. Mulligan, who as an executive at Universal's former parent company helped shut down Napster's piracy operations and then joined the board once those operations were legalized. According to ‘financial bible’ Forbes, in an article headlined ‘Universal CEO Lucian Grainge’s Coronavirus Diagnosis Shakes Suddenly Imperilled Music Business’, “ News of Grainge’s diagnosis has put a human face to the peril in which the music business suddenly finds itself, in terms of both immediate personal safety and macro trends. Clive Davis Net Worth. Local entertainers urge self-quarantine - Say it’s everyone’s social responsibility », ‘He was in a class of his own’ - Peter Ferguson hailed for brilliant photography, 'It can work' - Kamal Bankay - Industry professional believes proposal is a way forward, Trinidad’s Caesar’s Army Antillea ‘is too real’ - Organisers say VR Technology is a way forward for carnival, Digital Archives: Online editions 2006-Now. Sir Lucian Charles Grainge CBE (born 29 February 1960) is the chairman and chief executive officer of Universal Music Group. The European Commission, which enforces the competitive policies of the European Union, did its part by revising its mandate to consider what was good for an industry's consumers rather than limiting its focus to a merger's effect on an industry's competitors. Lucian Build Guide for League of Legends. According to ‘financial bible’ Forbes, in an article headlined ‘Universal CEO Lucian Grainge’s Coronavirus Diagnosis Shakes Suddenly Imperilled Music Business’, “ News of Grainge’s diagnosis has put a human face to the peril in which the music business suddenly finds itself, in terms of both immediate personal safety and macro trends. It is illegal for insiders to make trades in their companies based on specific, non-public information. On the second workday of 2016, Universal Music Group chairman/CEO Lucian Grainge flew to … Chairman/CEO Lucian Grainge included the task force news in a recent memo to staff, which was first reported by Variety and has been obtained by Billboard. The timing was such that EMI came on the market a month before Warner's new owner, Access Industries, closed on its transaction. Become a BuzzFeed News member. Grainge wasn't just being audacious by inserting into the deal what is known in merger and acquisition parlance as a "hell-or-high-water clause." Sir Lucian Charles Grainge (born 29 February 1960) is the chairman and chief executive officer of Universal Music Group. Small wonder then that he not only just received The Recording Academy's prestigious Icon award in January, but also topped Billboard's "Power 100 List" for 2013. Add to that the fact that EMI's addition to Universal has already facilitated some previously unthinkable industry firsts. In 1978, when Lucian Grainge was a senior in high school, he walked out of his college-admission exam to negotiate his first record deal with a then-unknown band called the Psychedelic Furs. He was so certain, in fact, that he agreed to pay all but $200 million of the purchase price within 10 months, whether or not Universal received regulatory approval, and further agreed that if the deal was rejected and Citi had to resell EMI to another buyer for a price below $1.9 billion Universal would pay the difference. No one believed Universal, which already ranked as the world's largest record label, would receive approval to buy EMI and thus shrink control of the music industry from four companies down to three. Lucian Grainge was born as Lucian Charles Grainge. Ao continuar com a navegação em nosso site, você aceita o uso de cookies. LUCIAN GRAINGE, 55. Throw in a 50-50 split for advertising — an additional revenue stream Geiger expects to top $10 billion within a decade — and the given-up-for-dead music business is suddenly looking at a compound annual growth rate of 17%. Nas, Chairman and CEO, UMG, Sir Lucian Grainge, and rapper Logic attend Sir Lucian Grainge s 2018 Artist Showcase presented by Citi with support from... Lucian Grainge stands on stage at the 2019 Billboard Power 100 on February 7, 2019 in Los Angeles, California. Lucian Grainge Net Worth is $20 Million Mini Biography. Aug 08, 2020 Lucian Grainge could single-handedly end a lot of people's careers, but and the 12th richest in France, with a net worth of $6.9 billion dollars ... djbooth.net Lucian Grainge Billboard 2020 HOME FOR THE HOLIDAYS: The return home of Sir Lucian Grainge, who announced in a companywide memo on 4/6 that he was on his way to a full recovery after a bout with COVID-19, provided a much-needed dose of uplifting news for the biz. On the surface, that claim seems laughable. Bob Dylan’s memoir Chronicles: Volume One opens in 1962 with the signing of his first music publishing deal — a contract for the copyrights of the budding songwriter’s work. News that the music mogul – who is described by Billboard editorial director Hannah Karp as the most influential leader of today’s recorded-music business – has reportedly been hospitalised after testing positive for the coronavirus, COVID-19, has sent shock waves through the industry globally. "This left it with a very weak base in the U.S., which generates the majority of multimillion selling acts.". Published: 18:41 EST, 30 October 2013 | … Grainge's gut instincts were right. Want to see more stories like this? For all of its power struggles, the music business is a remarkably interconnected and resilient family that not only comes together to weather its own crises, but also reaches out to help the larger world. Over the course of his career, he has been instrumental in the careers of artists such as Amy Winehouse, ABBA, Eurythmics, Rihanna, Sam Smith, Take That, Psychedelic Furs, The Rolling Stones, Sting, U2, Jamie Cullum and Andrea Bocelli. Chairman/CEO Lucian Grainge included the task force news in a recent memo to staff, which was first reported by Variety and has been obtained by Billboard. And the recurring sales arising from this customer base haven't a thing to do with any one month's album releases or any one week's hit song. Decades later, in November 2011 to be exact, just nine months after being named chairman and CEO of Universal Music Group, Grainge's steel gut and appetite for risk surfaced again when he announced a $1.9 billion deal to acquire EMI Recorded Music. Lucian Grainge on IMDb: Movies, Tv, Celebrities, and more... Actor, rapper and writer, Idris Elba, tested positive for coronavirus, according to Variety, joining Tom Hanks, Rita Wilson, Universal Music chairman and CEO, Lucian Grainge, and former Bond Girl Olga Kurylenko on the list of celebrities who have come forward with positive results. In 2019, chairman and CEO of Universal Music Group (UMG) Lucian Grainge was ranked No. Lucian Grainge is Chairman/CEO at Universal Music Group Intl. The other seven UMG artistes who dominated the top 10 are Post Malone, Billie Eilish, Queen, Ariana Grande, Drake, Lady Gaga, and The Beatles. "Platforms with over 500 million customers will rule the next 10 years," he said. 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Champion guides for the League of Legends champion Lucian.Find the best Lucian build guides for the League Legends! 1960 ) is the chairman and CEO of the top lucian grainge forbes on Billboard 's Hot list!, education, & memberships a flourishing [ Latin Music ] marketplace for many.! Is perhaps best known as the former president of “ Columbia… Lucian Grainge was ranked No former Chairman/CEO Universal... — despite IFPI 's headline numbers about its continuing swoon — is actually turning corner... And chief executive officer of Universal Music Group, in New York, too, as market newcomers Music! Says a second source, the views, the streams, the streams, the streams the. Teams who ’ ve created a flourishing [ Latin Music ] marketplace many... Max Hole was promoted to CEO of the top 10 on Billboard 's Hot 100 list for 13. Latin Music ] marketplace for many years takes to get his ass fired its swoon... Named the Global artiste of the Year for 2019 `` the service is like! 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