Universal Music Group and Live Nation Entertainment Merge
When companies merge, it is with the end goal of creating mutual benefits for all parties involved. That is the hope now as two of the biggest titles in the music industry team up this Fall: Universal Music Group and Live Nation Entertainment. According to SingersRoom.com, the two have merged in a business venture that will affect the likes of Dr. Dre and Rihanna, as both are signed to UMG and will surely see higher revenue streams as Live Nation promotes and sells their music and concert tickets.
In a statement released earlier, Chairman and CEO of UMG Lucian Grange explains that “Our artists and their music are at the heart of everything that we do, and by leveraging our combined skills, strengths and global reach with that of Live Nation Entertainment, our management companies, artists and their fans will benefit immeasurably.” This will no doubt be the reality of the situation, as both companies are massive power houses in the global music industry, and their combined efforts can only be predicted to see a much higher profit margin than what they’re both used to.