Vivendi: Five-year development plan for Universal Music Group ; Lucian Grainge committed to UMG and Vivendi at least until 2020
July 31 2015 - 07:24AM
Business Wire
Regulatory News:
Vivendi (Paris:VIV) has agreed on a five-year development plan
with the senior management of Universal Music Group (UMG). Present
in over 60 countries and owning a portfolio of 50 prestigious
labels, UMG is the global leader in music. It has an annual
turnover of nearly 5 billion euros and employs over 7,000 people in
the world. This plan will enable the company to maintain its
profitable growth and continue to play a leading role in the
transformation of the music industry.
UMG will accelerate the monetization of music on digital
channels, broaden the reach of its audio and visual content through
multiple partnerships with platforms and strengthen its strategic
relationships with brands and sponsors. It will pursue its
industry-leading track record of talent management and development.
UMG will also continue investing in high-potential markets for
music, such as Africa, India and China.
Key to this strategy is the fact that Lucian Grainge CBE,
Chairman and Chief Executive Officer of UMG, has committed to UMG
and the Vivendi Group for a further five years, until at least
2020. Appointed to his current position in 2011, Lucian Grainge has
held a variety of functions within the music industry spanning over
thirty years. After joining UMG in 1986 to launch PolyGram Music
Publishing UK, Lucian Grainge held the positions of Chairman of
Universal Music UK and Chairman and Chief Executive Officer of
Universal Music Group International. He spearheaded the
international expansion of UMG and the diversification of the
company’s activities.
UMG is at the heart of Vivendi’s strategy to refocus the Group
on media and content creation and to be the preferred partner for
all creative talent.
About Vivendi
Vivendi is an integrated media and content group. The company
operates businesses throughout the media value chain, from talent
discovery to the creation, production and distribution of content.
The main subsidiaries of Vivendi comprise Canal+ Group and
Universal Music Group. Canal+ is the leading pay-TV operator in
France, and also serves markets in Africa, Poland and Vietnam.
Canal+ operations include Studiocanal, a leading European player in
production, sales and distribution of film and TV series. Universal
Music Group is the world leader in recorded music, music publishing
and merchandising, with more than 50 labels covering all genres. A
separate division, Vivendi Village, brings together Vivendi
Ticketing (ticketing in the UK, France and the U.S.), MyBestPro
(experts counseling), Watchever (subscription video-on-demand) and
the Paris-based concert venue L’Olympia. With over 2.5 billion
videos viewed each month, Dailymotion is one of the biggest
aggregation and distribution platforms in the world.
www.vivendi.com, www.cultureswithvivendi.com,
www.themediashaker.com
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