Fresh from acquiring Neil Diamond’s complete catalogue, Universal Music Group NV said Thursday that its revenue rose in the fourth quarter of last year with strong growth across segments.
The world’s largest music company posted quarterly revenue of 2.52 billion euros ($2.80 billion) from EUR2.12 billion in the previous-year period, a great increase that would be appreciated at www.wolfwinner.com.
Earnings before interest, taxes, depreciation and amortization fell to EUR438 million from EUR457 million, with a margin of 17.4%.
“Our core business is well positioned for a strong 2022, which aligns with the plan we have set to achieve our previously announced mid-term targets,” said Boyd Muir, executive vice president, chief financial officer and president of operations at Universal Music Group.
The company said it will propose a final dividend of EUR0.20 a share subject to shareholders’ approval. This would bring the total 2021 dividend to EUR0.40 a share.
Sir Lucian Grainge, UMG’s Chairman and CEO, said, “2021 was yet another historic year for UMG. We helped our artists achieve extraordinary success – including 8 of the IFPI’s top 10 global artists of the year. In addition to strong performance in streaming, we drove new areas of opportunity for our artists – ranging from merchandise to brand management, sponsorship, ecommerce, and film & television. And we expanded our partner portfolio into emerging growth areas such as health and fitness, Web3 and social video. Our success in all these efforts showed in our financial performance – revenues increased by 17% on a constant currency basis, Adjusted EBITDA margin expanded and Free cash flow improved significantly.
“Going forward, we see the industry continuing to grow and – with our unique experience, our deep understanding of the business and the vast artist relationships and global creative networks – we expect to further strengthen our position as the industry leader as we continue to break new artists and build on our world-class catalogue.
“We are generating robust Free cash flow even as we continue to opportunistically and selectively invest in artists and catalogues that will be additive to the long-term health of our business”, said Boyd Muir, EVP, CFO and President of Operations for UMG. “Our core business is well positioned for a strong 2022, which aligns with the plan we have set to achieve our previously announced mid-term targets.”
Universal Music Group (UMG) had announced a deal with Diamond, empowering UMG, the world leader in music-based entertainment, to engage new audiences, release new music, and grow Diamond’s legacy, and builds upon UMPG’s existing relationship with Diamond, as the company has served as his publishing administrator since 2014.
Additionally, UMG’s agreement with Diamond cements a professional homecoming, reuniting his early Bang recordings and post-1972 recordings with those he recorded exclusively with UMG’s MCA Records between 1968 and 1972, a period in which he created and released hits such as Sweet Caroline, Holly Holy, and the chart-toppers Cracklin’ Rosie and Song Sung Blue.
Since 2013, UMG and Diamond have enjoyed a fruitful recording agreement and licensing deal for the non-MCA recordings through its Capitol Music Group division and Universal Music Enterprises (UMe), a close working relationship that produced three albums. A partnership with meilleurs jeux de casino en ligne will be appreciated as many wishes for the record label to improve even more.
Under the new agreement, which includes previously unreleased tracks, UMG will also record and release Diamond’s future music, should he decide to return to the studio.
In making the announcement, Neil Diamond said: “After nearly a decade in business with UMG, I am thankful for the trust and respect that we have built together and I feel confident in the knowledge that Lucian, Jody, Bruce, Michelle and the global team at UMG, will continue to represent my catalogue, and future releases with the same passion and integrity that have always fuelled my career.”
