UMG posted a net profit of 782 million euros ($852.7 million) in 2022, down 12% from 2021, the company said earlier this month.
Universal Music Group NV said it will extend Lucian Grainge’s contract as chief executive for five years and amend it after profit dropped in 2022.
Mr.... Universal Music Group NV said it will extend Lucian Grainge’s contract as chief executive for five years and amend it after profit dropped in 2022.
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Warner Music Group Layoffs to Save $50M AnnuallyWarner also expects its margins to improve with a “financial transformation program” as well as the market’s shift to higher-margin digital music.
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