GRAINGE EXTENDS REIGN
UMG topper Lucian Grainge has inked a new five-year deal to continue his reign as Chairman/CEO until at least 2020, Vivendi has announced.
Grainge first joined UMG in 1986, held the top posts at Universal U.K. and UMG International and was topped for the leadership role at UMG in 2011, Vivendi has announced.
The exec, who holds a CBE from the British Crown, oversaw the integration of EMI not long after his appointment, and has guided Universal’s continued marketshare dominance and revenue growth ever since, with an unfailingly global outlook and a shrewd eye on evolving technology.
Grainge set up a global partnership with Jay Z’s Roc Nation, a global distribution deal with Daniel Glass’s Glassnote and the sale of a 14% stake in Beats to Apple (yielding $400m-plus), among other deals.
He has also been outspoken about transitioning the business to to subscription streaming, criticizing unlimited "freemium" as an unsustainable model.
UMG has upped its points on our latest marketshare scoreboard, adding 1.7% for a frontline share of 42.8 and a TEA share of 39.0.
Re-upping Grainge is key to what Vivendi calls its five-year development plan, which will include extending its reach across all available platforms, establishing new partnerships and growing its business in Africa, China and India.
Stay tuned for more.
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