Music Business Worldwide
December 18, 2020
Universal Music Group CEO and Chairman, Sir Lucian Grainge (credit: UMG)
Universal Music Group Chairman & CEO, Sir Lucian Grainge, has reflected on the past year in a memo to staff obtained by MBW.
While celebrating UMG’s “spectacular and record-breaking success” in 2020, Grainge also struck a note of contemplation, noting that the past 12 months has “come to represent pain and loss on a scale none of us ever could have imagined”. (Grainge, of course, was himself hit by COVID-19 in April.)
The note was sent yesterday (December 17), the same day that a Tencent-led consortium agreed to acquire a further 10% of UMG, in a transaction anticipated to take place during the first half of 2021.