Latest news with #Grainge
Yahoo
12-05-2025
- Business
- Yahoo
Universal Music Group Posts $3.3B In Revenue for First Quarter
Universal Music Group, the world's largest music company, posted 11.8 percent year-over-year revenue growth for its first quarter to 2.9 billion euros ($3.3 billion), the company reported on Tuesday, buoyed by releases from Kendrick Lamar, Sabrina Carpenter, Lady Gaga and Japanese rock band Mrs. Green Apple. Revenue from UMG's recordings division overall grew 12.7 percent year over year to about 2.2 billion euros ($2.5 billion), with subscription and streaming revenue growing 9.5 percent to about 1.6 billion euros ($1.8 billion). Subscriptions specifically grew 11.5 percent, but streaming grew 3 percent. Revenue from physical sales meanwhile grew 17.6 percent to 300 million euros ($341 million). Licensing revenue grew the most at 33 percent to 296 million euros ($338 million). More from The Hollywood Reporter Chappell Roan Signs Management Deal With Noah Kahan Manager Drew Simmons Gretchen Wilson Goes on 'The Road' With CBS Music Competition Show Mike Van Named First-Ever CEO of Billboard On the publishing side, revenue grew nearly 12 percent overall, up to about 555 million euros ($633 million). Digital revenue was by far the biggest gainer, and the largest contributor to the publishing division, growing 19.4 percent to 339 million euros ($387 million). Performance revenue growth was flat at 114 million euros ($130 million). Download revenue dropped 13 percent to 40 million euros ($46 million), matching broader industry trends as digital downloads continue to plummet in the streaming era. Merchandise revenue fell nearly 2 percent to 112 million euros ($128 million), with the company citing 'timing-related declines in touring merchandise sales' but adding that stronger direct-to-consumer sales partially offset the loss. 'Our strong results – and our confidence about the future – reflect the execution of our strategic plan, including consistently developing and breaking the world's most successful artists and songwriters by connecting them with billions of fans in new and innovative ways,' UMG's chairman and CEO Lucian Grainge said in a statement. This was the first financial quarter earnings report since UMG announced its new multi-year partnership with Spotify in January. The company also restructured its Nashville team, replacing CEO Cindy Mabe with Mike Harris. (UMG Nashville rebranded to Music Corporation of America this month). UMG flagship label also announced it was reviving the famed Nashville label Lost Highway. During UMG's earnings call Friday morning, UMG spoke about 'superfan' offerings like super-premium streaming plans on DSPs. Grainge also referenced the current broader 'economic uncertainty in the world,' but referred to music as a 'shelter from the storm,' quoting Bob Dylan as Grainge said he was confident in UMG's business in the months ahead. 'I've been through various cycles of economic uncertainty, music has always proven to be incredibly resilient,' Grainge said. 'It's low-cost, high engagement and obviously a unique form of entertainment. When household budgets tighten, music subscriptions and purchases have been resilient. The usage is constant, and it's good value for money. Music improves people's lives.' Best of The Hollywood Reporter How the Warner Brothers Got Their Film Business Started Meet the World Builders: Hollywood's Top Physical Production Executives of 2023 Men in Blazers, Hollywood's Favorite Soccer Podcast, Aims for a Global Empire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fox News
30-04-2025
- Entertainment
- Fox News
Sofia Richie Grainge launches new Amazon Essentials kidswear collection for summer
Sofia Richie Grainge has unveiled a second Amazon Essentials kidswear collection. These timeless designs feature some of the cutest prints and fabrics for spring and summer, as well as shoes and swimming items. The collaboration also has a wide range of budget-friendly options. These adorable and practical pieces blend quiet luxury with everyday practicality. The designs include short sets in ultra-soft double-knit fabric featuring adorable patterns and classic pointelle stitch cardigans in the sweetest pastels. Grainge even has a selection of Mommy and Me styles, ensuring both style and comfort for you and your little one. Sign up for an Amazon Prime membership to enjoy the benefits of fast, free delivery, access to exclusive deals and the option to Buy With Prime. With most purchases delivered within 24 hours for Prime members, there's no better time to join or start a 30-day free trial for your shopping needs. Here are classic styles for an effortless chic look this summer: This delicate, pointelle knit cardigan is darling and features scalloped detailing and faux-pearl snaps for a classic look. The cardigan is made of 100% cotton yarn and is machine-washable. This sweet pointelle cardigan is perfect for spring and will have your little one feeling comfortable throughout the day. This sweet cotton sateen dress features a delicate strawberry print, the right choice for a spring portrait day. It's fitted through the chest and waist and has a full skirt detailed with a tiered flounce and delicate ruffles. Made of 100% lightweight fabric, the puff-sleeved dress has a glossy finish and an ultra-soft feel. Match an Eyelet Bonnet Hat to the cotton sateen dress for a classic look that gives heirloom vibes. The bonnet is made of cotton sateen and features a ruffled brim. Also, the breakaway hook-and-loop closure offers a secure and flexible fit for your baby. Grab a classic pair of Mary Jane ballet flats to complete a fancy look perfect for weddings or special days out. The flats are made of high-quality velvet and feature a faux leather lining. They are easy to slip on and have a padded insole for extra comfort. For $12.90, you can buy these Mary Janes in infant sizes with the same velvet upper and bow detailing. This eyelet short and top set for toddlers and baby girls is perfect for summer fun. It is made from lightweight, ultra-soft double-knit cotton with natural stretch and breathability. A baby will feel cool and comfortable in this relaxed-fitting set. Original price: $17.70 Grab this Amazon Essentials x Sofia Grainge romper to keep your dressing routine easy. The romper features a cute print made of comfortable and breathable double-knit cotton. The Peter Pan collar and gathered puff sleeves make this set of two rompers extra sweet. Amazon Essentials x Sofia Grainge's rain jacket is functional and cute. The water-repellent jacket has a relaxed fit that can easily be worn over a light sweater. The design features a Peter Pan collar and patch pockets with snap flaps. The boy's raincoat, on sale for $24.90, comes in a baby blue color with an adorable elephant print. This toddler and baby girls' two-piece swimsuit has a four-way stretch for enhanced flexibility and a comfortable fit. The suit is fully lined and features a double-layer flounce at the top and bottom with crisscross straps. This two-piece also has a gorgeous ruffle detail. The Mommy and Me Short-Sleeve Pajama Set is easy to wear and will keep your baby comfortable on summer evenings. The set is made from a medium-weight 100% cotton micro-rib knit and has a snug fit. The shorts include an elastic pull-on waist for a comfy fit. Match this set with a short-sleeved pajama set for mom made of a soft jersey knit. The set comes with a short-sleeve top featuring a button front and a timeless shirt collar. This toddlers and baby boys' short set is adorable and comfortable. The top is made of a lightweight, ultra-soft double-knit fabric and the terry shorts are just as soft. The T-shirt has a slight drop shoulder, providing a comfortable fit for the baby boy. Easy to put on and take off, this set makes dressing a breeze. Your baby boy will look extra sweet in this short-sleeve romper. It features a cute print made of comfortable and breathable double-knit cotton. The romper includes a polo collar, snap front placket, and gusseted snap closure for a dressy style. These French terry knit shorts are the perfect summer wardrobe essential. They come with a soft, elasticated waist for easy on and off, making dressing easier for Mom and Dad. Also, these shorts are a great choice for little ones who are potty-training. Your boy will look chic with these loafer slip-ons. These loafer flats feature a well-crafted faux suede upper and faux leather lining. They are easy to slip on and include a padded footbed to keep your baby in comfort. For more deals, visit This Mommy and Me Short Sleeve Pajama Set comes in an adorable stripe pattern. They are easy to wear and will keep your baby comfortable on summer evenings. The set is made from a medium-weight 100% cotton micro-rib knit and has a snug fit. The shorts include an elastic pull-on waist for added comfort. Match this set with a short-sleeve pajama set for mom, on sale for $19.90.
Yahoo
26-01-2025
- Business
- Yahoo
Universal, Spotify ink multi-year deal
Universal Music Group, the world's largest music company, and streaming behemoth Spotify on Sunday announced a multi-year direct deal that will affect both recording and publishing royalty rates. The joint statement did not provide details on the value or specific length of the agreement, but said UMG and Spotify "will collaborate closely to advance the next era of streaming innovation." "Artists, songwriters and consumers will benefit from new and evolving offers, new paid subscription tiers, bundling of music and non-music content, and a richer audio and visual content catalog," the statement read. The deal notably "establishes a direct license between Spotify and Universal Music Publishing Group across Spotify's current product portfolio in the US and several other countries," the companies said. Trade publication Billboard said it was the first direct deal Spotify has struck with a publisher since 2018's Music Modernization Act, which updated US copyright law with the intent to overhaul statutory licensing for the digital age and improve the way songwriters get paid for streams. It appears to indicate a sign of compromise when it comes to Spotify's controversial "bundling" rollout, which saw the Stockholm-based company reclassify its paid streaming plans to include audiobooks -- meaning payments were split between music and book publishers. "Spotify maintains its bundle, but with this direct deal [with UMPG], it has evolved to account for broader rights, including a different economic treatment for music and non-music content," a Spotify spokesperson told Music Business Worldwide in a statement. The Mechanical Licensing Collective -- a non-profit entity under the US Copyright Office that was created under the MMA -- sued Spotify over the issue, saying the company was grossly underpaying songwriters, composers and publishers. UMG's CEO, Lucian Grainge, said in a statement that the deal is an example of his company's "vision" for "Streaming 2.0" -- which intends to increase value via subscription levels and selling products over a focus on scale in streaming. "This agreement furthers and broadens the collaboration with Spotify for both our labels and music publisher, advancing artist-centric principles to drive greater monetization for artists and songwriters, as well as enhancing product offerings for consumers," Grainge said. The partnership will help Spotify make "paid music subscriptions even more attractive to a broader audience of fans around the world," that company's CEO Daniel Ek said in the statement. mdo/sst Sign in to access your portfolio
