Music streaming has been the driving force behind the recorded music industry’s return to growth after roughly 15 years of declines. According to IFPI, the global recorded music streaming revenue has increased from ~$0 in 2004 to ~$17 billion in 2021, which is equivalent to the size of the entire global recorded music market in 2008. Universal's CEO Sir Lucian Grainge sent a New Year memo saying the economic model needs to evolve. Jimmy Stone explains why Grainge believes it's time for a change.

Universal Music Group has opened its first “music-based experiential hotel” in Madrid, uDiscoverMusic reports. The UMUSIC Hotel Madrid is operating at full capacity since the start of this year. The innovative hotel is located inside the historic Albéniz Theater building in the Spanish capital. “Through music’s unique power to inspire and unite – especially given UMG’s unparalleled roster of artists and labels – UMUSIC Hotels will both highlight these cities’ rich music heritages and provide new opportunities for artists to reach fans in immersive, innovative and authentic ways,” Bruce Resnikoff, President and CEO of Universal Music Enterprises, said of the project. Locations planned for UMUSIC hotels are Atlanta, Georgia; Biloxi, Mississippi; and Orlando, UMUSIC Hotels offer fans, guests, and artists immersive music experiences, incorporate elements of the local music scene,

Universal Music Group saw its overall annual revenues across publishing, records, and merch hit €8.50 billion ($10.03 billion) last year, surpassing the USD $10 billion mark for the first time in history, Music Business Worldwide reports. That figure was up 17.0% year-over-year in constant currency. Also, Universal’s total revenues on a Euro basis in 2021 (€8.50bn) were more than double the size of UMG’s annua

Universal Music Group's opening price on the Amsterdam Stock Exchange today was over a third bigger than the reference price that Vivendi confirmed previously of €18.50 ($21.7) which would have valued UMG at €33.5 billion (approx. $39bn), Music Business Worldwide. It means that as of this week, UMG has a €25.25 ($29.63) share price, which translates to a colossal valuation of €46.3 billion or $54.3 billion for the world’s biggest music rightsholder. UMG largely bids au revoir to former Paris-based parent Vivendi, which now owns just 10% of UMG, while a Tencent-led Consortium owns 20%. Pershing Square Holdings Ltd also owns 10%, and French businessman ex-Vivendi Chairman Vincent Bolloré’s ‘Bolloré Entities’ owns 18.0%.

New York-based Pershing Square Tontine Holding, led by billionaire CEO Bill Ackman, is to acquire 10% of Universal Music Group for approximately $4 billion. The deal would value the label at $40 billion and make it the largest ever investment by a blank check vehicle, Reuters reports. Universal, owned by the parent company Vivendi and controlled by French billionaire Vincent Bollore, has benefited from growing streaming revenues at the world's biggest music label, which is behind artists such as Taylor Swift and Lady Gaga. The deal would give Universal an enterprise value of 35 billion euros ($42.4 billion).

Universal Music Group’s total revenues hit $2.20 billion in Q1, up 9.4% year-on-year. MBW does a breakdown of that number - $2.20bn quarterly turnover was equivalent to $24.5m a day, or $1m an hour. The star of the period, expectedly, was streaming - it generated $1.23bn, up 19.6% year-on-year.

Bob Dylan has sold his entire songwriting catalogue to Universal Music for $300 million, according to the New York Times. The deal gives Universal the ownership of over 600 Dylan's songs spanning a period of almost six decades, starting with early classics such as ‘Blowin’ in the Wind’, ‘The Times They Are A-Changing’ and ‘Like A Rolling Stone’, all the way through to 2020’s ‘Rough and Rowdy Ways’. The deal means that Universal now controls one of the most celebrated back catalogues in history, and does not have to share future revenues with any other songwriters.Let's hope

Universal Music Group has established a $25 million “Change Fund” that will be invested across six areas of focus, including aid/charitable giving, global, internal/institutional change, legislative/public policy, partners and programming/curation, Billboard reports. Spotify has pledged to match $10 million in donations, after being called out by its employers, and give $1 million worth of advertising to social justice groups, Digital Music News reports. Blood Orange's Dev Hynes helped raise $500,000 in just two days, with a limited edition t-shirt, Uproxx reports.

Universal Music Group announced a multi-million dollar initiative UMG All Together Now Foundation intended to support its artists, songwriters and employees over the next several months while the coronavirus shutdown is in place. UMG employs 8,800 workers around the world, with the foundation offering enhanced HR offerings and other programs, as well as a commitment that any employees who cannot work remotely will not see their pay change through at least June 30. The company is also offering a suite of economic flexibility initiatives to its artists and assorted companies, including interest-free royalty advances and fee waivers, Billboard reports. The company is also donating directly to MusiCares’ COVID-19 Relief Fund (a source says UMG has made the largest contribution there of any record label) and the Help Musicians UK charities, and has committed to matching donations that U.S. employees make to those organizations as well.

Universal Music Group generated €921m, or $1.02bn, in recorded music streaming revenues in the last quarter od 2019, and it's overall revenues in 2019 – across recorded music, publishing and other activities – hit €7.16bn ($8.04bn), according to Music Business Worldwide. That revenue number was up 14.0% year-on-year at constant currency and perimeter, recorded music streaming revenues leapt up by 21.5% in calendar 2019 to €3.33bn ($3.73bn). This means that streaming contributed some 59.1% of UMG’s total recorded music revenues in 2019, and physical recorded music revenues also grew in 2019 - up 3.1% year-on-year to €1.01bn ($1.14bn). Biggest money-makers: Billie Eilish, Post Malone, Taylor Swift, Ariana Grande, and 'A Star Is Born' OST.

In July, August and September Sony’s publishing companies generated $357.6 million, Universal Music Publishing Group was $30m behind with $327.5 million, while Warner was way behind with $173 million. In the first nine months of 2019, Sony made $1.036 million, Universal was at $857 million, and Warner at $478 million, Music Business Worldwide reports