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Creative Industries

Vivendi wins shareholders’ approval to float Universal Music Group

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With a quorum of 68.99% of shareholders, over 99.9% of Vivendi shareholders present at the company's Annual General Shareholders' Meeting have approved the plan from the French media and entertainment firm to spin off its affiliate Universal Music Group, the world's largest music company.

Vivendi plans to distribute 60% of UMG's shares to Vivendi shareholders when the company is listed on the Amsterdam Exchange at the end of September 2021.

A consortium led by Tencent already owns 20% of UMG ...

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Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

Creative Industries

Hailey Willington named Diversity, Equity and Inclusion Manager at the UK’s BPI

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British record labels association the BPI has appointed Hailey Willington to the newly-created post of BPI Diversity, Equity and Inclusion Manager.

Willington, who started in the new role on 1st June, reports to BPI Chief Operating Officer MJ Olaore. She was previously Diversity, Equity, and Inclusion Leader at Merton Music Foundation. Willington commented: “I am thrilled to be joining the BPI to help further the progress of the important diversity, equity, and inclusion initiatives that ha...

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Creative Industries

South Korea’s HYBE plans to raise $380 million to fund acquisitions in the US

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South Korean music company HYBE is seeking to raise around 500 billion won ($380 million) to fund acquisitions in the US and expand its business beyond K-pop, according to a report from Blomberg.

HYBE, home to the band BTS, has already shifted in the past two years from a mainly South Korean-centric company to a player with a larger footprint, thanks to investments in Japan and in the US, where it is now the owner of Scooter Brown's Ithaca Holdings in a deal that included management company...

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Creative Industries

Directors Guild of America reaches an agreement with Hollywood studios

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The Directors Guild of America (DGA) has reached a tentative agreement on the terms of a new three-year collective bargaining agreement with the Alliance of Motion Picture and Television Producers (AMPTP), which represents the Hollywood studios, including Netflix and Amazon.

The agreement, which will be submitted to DGA National Board at special meeting on June 6, includes higher wages, a substantial increase in residuals from SVoD, and a determination the "AI is not a person."

The...

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