Entertainment UK Music mogul Sir Lucian Grainge set for a £100m in Universal float

02:25  15 september  2021
02:25  15 september  2021 Source:   dailymail.co.uk

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LUCIAN GRAINGE INTERVIEW: Universal mogul on how to make pop music work in the digital age. By Rupert Steiner for the Daily Mail. Published: 22:41 BST, 30 October 2013 | Updated: 12:21 BST, 31 October 2013. In July it was reported that Japan’s Softbank made a £ 5.2billion offer for Universal , which was rebuffed. So for now Grainge ’s focus is on finding ways to ensure Universal secures revenues from the shift towards music being consumed online. Recorded music is growing for the first time since 1999 and much of this is due to the creation of mobile phone applications and subscription

Taylor Swift, Lucian Grainge posing for the camera: MailOnline logo © Provided by This Is Money MailOnline logo

The British boss of Universal Music Group is set to scoop a bonus worth more than £100million as the company floats on the stock market.

Music mogul Sir Lucian Grainge will rake in around £104million if he pulls off the listing in Amsterdam this month, according to documents published yesterday.

This is on top of a pay package worth up to £30.4million.

Taylor Swift, Lucian Grainge posing for the camera: ( © Provided by This Is Money (

Grainge was handed £15m last February after orchestrating the sale of 20 per cent of Universal to a group of investors led by Chinese internet giant Tencent, and is set to pocket a similar bonus this month after selling 10 per cent to Pershing Square, the hedge fund led by US billionaire Bill Ackman.

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Mandy Moore posed up with Sir Lucian Grainge on Saturday at the music mogul 's artist showcase in Hollywood. Wearing her hair down, the This Is Us actress slipped into a glamorous green gown that slid off the shoulder in an Old Hollywood touch. The event presented by Citi and Lenovo featured a Sir Lucian posed with Billie, Finneas, Interscope Geffen A&M Records CEO John Janick, Universal Music Publishing Group CEO Jody Gerson and artist manager Justin Lubliner who was responsible for getting Billie signed to Interscope. Lana Del Rey also got her picture taken alongside Sir Lucian , who wore a

Universal Music CEO Lucian Grainge Applauds 'Historic Year' in Annual Memo to Staff. In the first three quarters of 2018, UMG labels and Universal Music Publishing Group (UMPG) posted revenue of .9 billion, up from .4 billion in the same period of 2017. But that’s in the past. Grainge joined Universal in 1986 to launch PolyGram Music Publishing U . K ., and he reflects that “in June, I will have been at this company in one form or another for 33 years.” In the wake of Napster, “we suffered through 12 or 13 years of decline. I’ve been around long enough to know that what goes up can also come

And he will benefit from a long-term incentive plan, which the company has yet to decide. Universal also revealed that Grainge is 'entitled to the use of a car, with a driver, for business and reasonable private use'.

The investor prospectus added: 'Sir Lucian is provided with the use of a chartered or private aircraft for business purposes, subject to requiring prior approval for any such usage in excess of €410,000 per annum.'

Grainge, 61, has spent his entire career in the music industry, working with stars from Amy Winehouse to the Rolling Stones.

He joined Universal in 1986 and helped launch record label Polygram, which became one of the UK's top three music publishers in just five years.

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SANTA MONICA, February 7, 2019 — Sir Lucian Grainge , Universal Music Group’s Chairman and CEO, has been named No. 1 on Billboard’s 2019 Power 100 list of the most influential executives in the industry. With this year’s top rank, Grainge leads the magazine’s annual list for a record fourth time. Additional Universal Music executives selected by Billboard include Executive Vice President Michele Anthony, Chief Financial Officer, Executive Vice President and President of Operations Boyd Muir, General Counsel and Executive Vice President of Business and Legal Affairs Jeffrey Harleston

Sir Lucian Grainge joined Universal Music in London in 1986 to launch a music publishing company, PolyGram Music Publishing UK . Within half a decade, the exec had led PolyGram to become one of the top three music publishing companies in the British market. In 1993, Grainge joined Universal label Polydor as General Manager of A&R and Business Affairs, working his way up to the position of Polydor Managing Director in 1997. Sir Lucian Grainge rarely grants interviews to the media, but regularly sends year-end memos to thousands of Universal Music Group employees around the world.

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By 2011, the Londoner who now lives in Los Angeles with his wife Caroline, had worked his way up to becoming the chairman and chief executive.

In his first year in charge, he orchestrated the rescue of beleaguered music giant EMI following its bruising period under the ownership of private equity firm Terra Firma.

Now Universal, whose roots trace back to 1934, looks after music from the likes of Taylor Swift, Billie Eilish and Take That.

The company, which has been majority-owned by French media giant Vivendi since 2000, is set to float in Amsterdam next week with an estimated value of £28billion.

Vivendi's major shareholder, Vincent Bollore, will be left holding around £5billion worth of Universal stock, as it hands out around 60 per cent of Universal's shares to its own investors.

Vivendi has been under pressure to spin out Universal for several years, as analysts said the music business was worth more than Vivendi's share price implied.

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Chairman & CEO of Universal Music Group Sir Lucian Grainge accepts the Executive of the Decade Award onstage at the 2020 Billboard Power List Event at NeueHouse Hollywood on Jan. 23, 2020 in Los Angeles. In a memo to UMG staff on Monday, Grainge gave an update on his ‘severe’ battle Grainge has been working with the company for 35 years, since 1986 when he launched Polygram Music Publishing UK . After he was named CEO in 2011, he closed a landmark deal for the company by acquiring EMI’s recorded music division for .9 billion that made UMG the largest music company in

The initial public offering (IPO) has now ignited speculation about what Bollore, and Vivendi, will do with the windfall.

The deal will also represent a healthy payday for Pershing Square, whose 10 per cent stake in Universal will be worth around £2.8billion. The consortium led by Tencent will keep its 20 per cent stake worth £5.6billion.

Last year, Universal raked in revenues of £6.3billion, and made a profit of £1.2billion.

It now makes its money from royalty sources including digital downloads and streaming, sales of CDs or vinyl records, live performances and the use of its music on TV shows or adverts.

In the early 2000s, record labels struggled as they lost money to digital piracy – but streaming services such as Spotify and Youtube have changed the game, as consumers are ready to pay for access to songs.

After the EMI acquisition, which saw artists such as the Beatles, Katy Perry and Robbie Williams come under Universal's umbrella, the company snapped up catalogues from a number of other artists – and under Grainge's watch, its value has increased from £4billion to £28billion.

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