Universal Music Group And Authentic Brands Group Announce Strategic Initiative To Acquire And Actively Manage Artist Brands
The companies, leaders in their respective industries, are joining forces to grow artists' legacies by engaging fans and tapping into new global audiences
SANTA MONICA, Calif. and NEW YORK, Nov. 16, 2021 /PRNewswire/ -- Universal Music Group (UMG), the world leader in music-based entertainment, and Authentic Brands Group (ABG), a global brand owner, marketing and entertainment company, today announced a strategic initiative to acquire and actively manage artist brands.
As the owner of the world's most iconic record labels, the music industry's leading merchandise company and a thriving film and television business, UMG has developed an unparalleled track record of serving artists and helping them reach new levels of success at every stage of their careers. ABG, as one of the world's leading brand owners with a portfolio that includes iconic celebrity brands such as Marilyn Monroe, Muhammad Ali, and Elvis Presley, creates memorable brand experiences that come to life across key consumer touchpoints, platforms and emerging media.
Working together, UMG and ABG will combine their respective leadership in artist brand management to expand the legacies and cultural impact of artists around the world. Working with artists, their representatives and legal heirs, the companies will strategically market and position artists across a wide range of consumer touchpoints leveraging their name and likeness to drive opportunities in merchandise, memorabilia, licensing, brand experiences and media and entertainment, among many others.
Sir Lucian Grainge, Chairman and CEO, Universal Music Group said, "UMG and ABG have strong track records as powerful stewards of artist and celebrity brands. Through this initiative, we will invest in name and likeness rights to create unique opportunities for artists with the goal of greatly expanding their cultural and commercial impact."
Jamie Salter, Founder, Chairman and CEO, ABG said, "We are honored to partner with the enormously talented team at UMG for this groundbreaking initiative. Together, UMG and ABG will work strategically to preserve the legacies of history's greatest artists."
About Universal Music Group
At Universal Music Group (EURONEXT: UMG), we exist 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 www.universalmusic.com.
About Authentic Brands Group
Authentic Brands Group (ABG) is a brand development, marketing and entertainment company, which owns a portfolio of global media, entertainment and lifestyle brands. Headquartered in New York City, ABG elevates and builds the long-term value of more than 30 consumer brands and properties by partnering with best-in-class manufacturers, wholesalers and retailers. Its brands have a global retail footprint across the luxury, specialty, department store, mid-tier, mass and e-commerce channels and in more than 6,300* freestanding stores and shop-in-shops around the world.
ABG is committed to transforming brands by delivering compelling product, content, business and immersive experiences. It creates and activates original marketing strategies to drive the success of its brands across all consumer touchpoints, platforms and emerging media. ABG's portfolio of iconic and world-renowned brands includes Marilyn Monroe®, Elvis Presley®, Muhammad Ali®, Shaquille O'Neal®, Dr. J®, Greg Norman®, Neil Lane®, Thalia®, Sports Illustrated®, Reebok®*, Eddie Bauer®, Spyder®, Volcom®, Airwalk®, Nautica®, Izod®, Forever 21®, Aéropostale®, Juicy Couture®, Vince Camuto®, Lucky Brand®, Nine West®, Jones New York®, Frederick's of Hollywood®, Adrienne Vittadini®, Van Heusen®, Arrow®, Tretorn®, Tapout®, Prince®, Vision Street Wear®, Brooks Brothers®, Barneys New York®, Judith Leiber®, Herve Leger®, Frye®, Hickey Freeman®, Hart Schaffner Marx®, Thomasville®, Drexel® and Henredon®. Pending acquisition in Q1 2022*.
For more information, visit authenticbrands.com.
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