Latest news with #LucianGrainge
Business Mayor
25-04-2025
- Business
- Business Mayor
Spotify to raise subscription prices outside the US
Unlock the Editor's Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Spotify will raise its subscription prices in dozens of countries around the world this summer, according to people familiar with the matter, as the music streaming leader prioritises profitability amid a soaring stock price. The group was planning to raise prices by the equivalent of €1 on individual subscriptions in countries across Europe and Latin America as early as June, these people said. Spotify would not raise prices in the US, its largest market, this summer, the people said. The streaming service increased its monthly price in the country in July 2024. Spotify declined to comment. Music industry executives have long lobbied Spotify, Apple Music and other streaming platforms to raise their prices, saying they have risen more slowly than inflation and the service is cheap compared to video streaming subscriptions such as Netflix. Even after recent price increases, a Spotify subscription in the US costs $11.99 a month, compared with $9.99 a month when the group launched in the country 14 years ago. Spotify has already quietly begun raising prices in some countries, such as the Netherlands and Luxembourg, in recent weeks. The push would intensify considerably this summer, said a person familiar with the matter. The move comes as a decade of fast expansion in the music business begins to slow, with global revenue growth in the sector halving last year, according to the IFPI trade group. As the big music companies search for a fresh leg of growth, they have been touting 'Streaming 2.0': the next phase of music streaming, which would include pricier premium versions of their services. Read More Which party won the social media election? Streaming groups including Spotify were considering charging extra money for early access to music, according to several people familiar with the discussions, as the music industry looks to cash in on the most passionate fans of beloved artists. They were also considering offering early access to concert tickets to those who pay for the super-premium tier, these people said. Spotify is eyeing a 'super-premium' tier that would cost an extra $6, on top of the $11 a month fee in the US, the FT has reported. These premium subscriptions would be different across the major platforms, according to several executives who are involved in these discussions. Apple, Amazon and YouTube are also preparing premium versions of their music streaming services. However, these people cautioned that plans could change. Universal Music Group chief executive Lucian Grainge introduced the term 'streaming 2.0' at a capital markets day in September. 'The next phase of streaming, what I like to call streaming 2.0 . . . we believe that the value will grow enormously', Grainge told a room of investors at the Abbey Road studio in London. Observers have questioned how consumers will react to paying more, after enjoying access to all the world's music for about $10 a month over the past decade. 'Do people want something new?' said Midia analyst Mark Mulligan. 'It's almost like you need the stick element of super-premium. And the stick element is: if you want to hear the music first, you need super premium.' Spotify's stock has more than doubled in the past year as the group has delivered both profits and subscriber growth. The company is set to report earnings on Tuesday. Read More Tech firms must 'tame' algorithms under Ofcom child safety rules
Yahoo
18-04-2025
- Entertainment
- Yahoo
Drake's Team Calls Out UMG Leadership: 'We Look Forward To Hearing From Lucian Grainge Under Oath'
Drake's team has fired back at Universal Music Group following the label's lengthy response to their amended complaint filed Wednesday (April 16) within his current defamation lawsuit against the company. UMG claimed in their response to the updated complaint that Drake is being misled by his legal counsel into believing he has a chance at winning 'this frivolous and reckless lawsuit' and that his team celebrating 'the granting of a routine discovery motion,' could come back to bite them, as 'Drake will personally be subject to discovery as well. As the old saying goes, 'be careful what you wish for.'' Drake's legal team claims the Toronto superstar has 'nothing to hide,' instead calling out UMG's leadership, including UMG CEO Lucian Grainge, and Interscope Geffen A&M Records CEO John Janick. Dr. Dre's Aftermath Entertainment is distributed by Interscope, and is responsible for all of Kendrick Lamar's major studio releases under Top Dawg Ent. 'Drake welcomes discovery and has nothing to hide. It's not Drake who should worry; it's UMG's current leadership. We look forward to hearing from Lucian Grainge, John Janick, and UMG employees under oath,' reads an excerpt of the detailed statement. It also makes reference to other artists who are currently disgruntled with UMG. While it doesn't mention them by name, both Iggy Azalea and Limp Bizkit have complained of being shafted by the label, with the Fred Durst-led group filing a lawsuit of their own in March. 'Drake joins a growing chorus of artists raising questions about UMG's leadership. The public and artists should be concerned about recent headlines involving UMG's largest stakeholder that only reinforces the need for transparency all the way up to the Board of Director's level,' the statement adds. The amended complaint filed this week addressed slights Drake's team feels were made during both The Grammys and Lamar's Super Bowl Halftime Show, weeks after the suit was originally filed in January. Read the full statement from Drake's legal team below: 'UMG's latest statement is a desperate attempt to spin the narrative and deflect from the truth: Drake is holding the largest music conglomerate in the world accountable for its actions and doing so without fear. 'We dismissed the Texas discovery action because discovery will now proceed in New York. That's not retreat, that's victory. UMG dismissed its first amendment petition in Texas because it has no claim, that's losing. And UMG knows the case against it is only getting stronger. 'Drake welcomes discovery and has nothing to hide. It's not Drake who should worry; it's UMG's current leadership. We look forward to hearing from Lucian Grainge, John Janick, and UMG employees under oath. 'UMG claims to stand for creativity, but in fact exploits it and the artist community knows that. UMG drains artists for its profits, then discards them. Drake joins a growing chorus of artists raising questions about UMG's leadership. The public and artists should be concerned about recent headlines involving UMG's largest stakeholder that only reinforces the need for transparency all the way up to the Board of Director's level. 'UMG said, 'be careful what you ask for,' Drake knows exactly what he asked for: the truth and accountability.' More from Drake Accuses UMG Of Using Super Bowl And Grammys To Assassinate His Character Serena Williams Addresses Whether Or Not Her Super Bowl Appearance Was Meant To Spite Drake Drake Reveals He's Working On New Album During Livestream With Adin Ross
South China Morning Post
18-02-2025
- Entertainment
- South China Morning Post
Who is Universal Music's Lucian Grainge, and how is he linked to Drake and Diddy?
Meet Universal Music Group's Lucian Grainge, who's now connected to the Kendrick Lamar and Drake feud through his daughter-in-law Sofia Richie. Photo: @sofiarichiegrainge, @champagnepapi/Instagram, UMG Fame and celebrity Last November, Drake sued Universal Music Group for allegedly using 'bots and a payola scheme' to inflate the streaming numbers of Kendrick Lamar 's Grammy winning dis track 'Not Like Us'. Sofia Richie is married to Lucian Grainge's son, Elliot Grainge. Photo: @plottttwistttttt/Instagram More recently, he has dragged Universal Music Group CEO Lucian Grainge's famous daughter-in-law, Sofia Richie, into his ongoing feud with the rapper. Sofia is the daughter of Lionel Richie , and she married Lucian Grainge's son Elliot Grainge in 2023. On February 12, Drake took to Instagram via his second account @plottttwistttttt to share screenshots of Richie sporting clothes from his brand, October's Very Own, in 2020. Richie was hired by Drake at the time to appear in the brand's autumn/winter 2020 women's campaign. Here's everything you need to know about UMG's CEO, Lucian Grainge. He is an industry titan Universal chairman and CEO Lucian Grainge in 2021. Photo: Big Hit Entertainment/Universal Music Group At 64 years old, Lucian Grainge has had a legendary career. He's worked with the likes of Jay-Z, Rihanna, Elton John and many more. He joined UMG, the world's largest record label conglomerate, in 1986, and became chairman and CEO in 2011. Grainge has been recognised for his contributions to the music industry, and received a star on the Hollywood Walk of Fame in 2020. He credits his father and brother for his career Lucian Grainge at Clive Davis' and the Recording Academy's Pre-Grammy Gala earlier this year.
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
Associated Press
26-01-2025
- Business
- Associated Press
UNIVERSAL MUSIC GROUP AND SPOTIFY STRIKE NEW MULTI-YEAR AGREEMENT
Expanded Global Relationship For Recorded Music and Music Publishing Companies to Accelerate Product Innovation, Advance Music Monetization and Deepen Engagement Between Artists and Fans SANTA MONICA, Calif. and STOCKHOLM, Jan. 26, 2025 /PRNewswire/ -- Universal Music Group (UMG), the world leader in music-based entertainment and Spotify, the world's most popular audio streaming subscription service, today announced new, multi-year agreements for Recorded Music and Music Publishing focused on growth, innovation and the advancement of artists' and songwriters' success. Sir Lucian Grainge, Chairman & CEO, Universal Music Group said, 'When we first presented our vision for the next stage in the evolution of music subscription several months ago—Steaming 2.0—this is precisely the kind of partnership development we envisioned. 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.' Daniel Ek, Spotify's Founder and CEO, said, 'For nearly two decades, Spotify has made good on its commitment to return the music industry to growth, ensuring that we deliver record payouts to the benefit of artists and songwriters each new year. This partnership ensures we can continue to deliver on this promise by embracing the certainty that constant innovation is key to making paid music subscriptions even more attractive to a broader audience of fans around the world.' Under the new agreements, 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. By deepening audience experiences, driving further engagement and amplifying the connection between artists, songwriters and their fans, the collaboration between these two companies will position the industry for continued subscriber growth and retention. The new publishing agreement establishes a direct license between Spotify and Universal Music Publishing Group across Spotify's current product portfolio in the U.S. and several other countries, which reinforces a mutually beneficial relationship for songwriters on the platform. The new agreements also renew the companies' commitment to artist-centric principles, ensuring that artists continue to be properly rewarded for the share of audience engagement that they drive and that their streaming royalties remain protected through the platforms' application of its fraud detection and enforcement systems. Notes to editors: About Universal Music Group Universal Music Group exists to shape culture through the power of artistry. UMG is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising and audiovisual content. Featuring the most comprehensive catalogue of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry, innovation and entrepreneurship, UMG fosters the development of services, platforms and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. For more information, visit About Spotify Since its launch in 2008, Spotify has revolutionised music listening. Our move into podcasting brought innovation and a new generation of listeners to the medium. In 2022, we took the next leap, entering the fast-growing audiobook market—continuing to shape the future of audio. Today, more listeners than ever can discover, manage and enjoy over 100 million tracks, 6.5 million podcast titles, and 350,000 audiobooks a la carte on Spotify. We are the world's most popular audio streaming subscription service with more than 640 million users, including 252 million subscribers in more than 180 markets.
