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Lucian Grainge Net Worth 2023: What Is The Universal Music Group CEO Worth?

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Lucian Grainge stands as a titan in the music industry, revered for his remarkable contributions and transformative impact. With an estimated net worth of $250 million, as reported by Celebrity Net Worth, Grainge’s journey is a testament to his unparalleled vision and dedication within the music realm.

Read More: Lyor Cohen Net Worth 2023: What Is The Music Executive Worth?

The Trailblazing Career In Music

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(Photo by Lester Cohen/Getty Images for Universal Music Group)

Born on February 29, 1960, in London, Lucian Grainge’s passion for music began at an early age. His journey in the industry commenced when he joined PolyGram in the late ’70s, marking the start of an illustrious career. His strategic prowess and keen understanding of the evolving music landscape propelled him to prominent positions within Universal Music Group (UMG). Grainge’s visionary leadership as the Chairman and CEO of UMG since 2011 has been pivotal in steering the company to unprecedented success. Moreover, his ability to adapt to digital shifts and harness the power of technology revolutionized UMG, making it the world’s leading music company.

Philanthropy & Humanitarian Contributions

Sir Lucian Grainge
(Photo by Randy Shropshire/Getty Images for The Recording Academy)

Beyond his professional accomplishments, Lucian Grainge is actively engaged in philanthropic initiatives. His dedication to various charitable causes, such as music education programs and humanitarian aid, underscores his commitment to giving back to society. Additionally, Grainge’s efforts in supporting emerging artists and nurturing talent highlight his desire to foster the next generation of musical innovators.

Read More: The Weeknd Signs Massive Long-Term Deal With Universal Music Group

Personal Life & Legacy

Sir Lucian Grainge
LOS ANGELES, CALIFORNIA – JUNE 11: Sofia Richie, Elliot Grainge, Caroline Grainge and Chairman and CEO of Universal Music Group Sir Lucian Grainge attend the British Consulate’s celebration of Her Majesty the Queen’s Platinum Jubilee on June 11, 2022 at the British Consulate General Residence in Los Angeles, California. (Photo by Lester Cohen/Getty Images for British Consulate Los Angeles and Universal Music Group)

Lucian Grainge’s personal life remains relatively private, with a focus on his influential role in the music industry. Married to Caroline Grainge, he maintains a low-key persona outside of his professional endeavors. His legacy, however, is entrenched in his indelible mark on the music landscape, shaping the careers of countless artists and influencing the global music market.

Impact & Financial Milestones

Grainge’s net worth of $250 million is a testament to his strategic acumen and enduring influence in an ever-evolving industry. His ability to navigate technological disruptions and adapt to changing consumer preferences has not only elevated his wealth but also solidified his legacy as a music industry magnate.

In summary, Lucian Grainge’s estimated net worth of $250 million signifies his extraordinary journey and profound impact on the music industry. His visionary leadership, philanthropic endeavors, and strategic contributions have reshaped the musical landscape, leaving an indelible mark on generations to come. Overall, Grainge stands as an emblem of success and innovation, showcasing the immense potential for influence within the realm of music.

The post Lucian Grainge Net Worth 2023: What Is The Universal Music Group CEO Worth? appeared first on HotNewHipHop.

The Drake & The Weeknd AI-Generated Song Was Removed From DSPs After A Statement From Universal Music Group

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It was fun while it lasted, but it looks like the era of AI-generated reproductions of rappers’ voices online is already facing its end. As I predicted a couple of months ago, it only took the right/wrong artist being unwillingly exploited for profit before the labels stepped in, shutting down some of the more notable tracks.

“Heart On My Sleeve,” one such track that had gone viral after being posted on DSPs, was the subject of a takedown request by Universal Music Group, which had it pulled from streamers. The track garnered attention for pairing the voices of Canadian artists Drake and The Weeknd for a song about The Weeknd’s ex Selena Gomez; it was a reunion of sorts for two artists who were once a dynamic duo but have since seemingly kept each other at arm’s length after a falling out.

Drake, it should be noted, wasn’t laughing when an AI-generated cover of his voice rapping Ice Spice’s “Munch” came to his attention. It’s just one of many fan-created joke tracks, which even include a phony Eminem verse on a David Guetta song.

And while proponents said “Heart On My Sleeve,” created by anonymous TikToker ghostwriter977, sounded just like something the two performers would actually make, detractors derided the song for only doing so on a surface level, throwing in additional criticism for listeners who praised it, calling them nothing short of racist for downplaying the true creativity that goes into hip-hop (you don’t see, for instance, AI-generated pop-punk or country music going viral for sounding “authentic”).

In a statement to Billboard, UMG decried the practice of generative AI copies of artists’ vocals, saying:

The training of generative AI using our artists’ music (which represents both a breach of our agreements and a violation of copyright law) as well as the availability of infringing content created with generative AI on DSPs, begs the question as to which side of history all stakeholders in the music ecosystem want to be on: the side of artists, fans and human creative expression, or on the side of deep fakes, fraud and denying artists their due compensation. We’re encouraged by the engagement of our platform partners on these issues – as they recognize they need to be part of the solution.

And hey, look: The irony of a major label complaining about “denying artists their due compensation” is not lost on me here. (Uproxx is an independent subsidiary of Warner Music Group.) But they’ve got a point: AI doesn’t just cut out the middleman (in this case, the labels), it also cuts out artists, who don’t get a say in the sort of subjects these fan-generated AI reproductions will ultimately indulge in (it’s only a matter of time until someone turns Kanye’s borderline neo-Nazi rants into a song, sung by an artist like Beyoncé or Rihanna). So, it’s probably best someone steps in sooner rather than later — at least to get some sort of legal framework in place so artists have recourse when they’re inevitably “forced” to “say” something they never said.

Questlove And Black Thought Are Accused Of Fraud In A Lawsuit From The Estate Of Late The Roots Bassist Leonard Hubbard

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Music titans Questlove, Black Thought, Live Nation, and Universal Music Group have been named in an explosive fraud lawsuit. According to Rolling Stone, Questlove (real name Ahmir Thompson) and Black Thought (real name Tariq Trotter), co-founders of hip-hop group The Roots, the group’s manager Shawn Gee, and band employee Munir Nuriddin are being accused of working together to “scheme to defraud” the estate of the band’s late bassist Leonard Hubbard’s widow and estate out of money owed to them.

After forming Grand Negaz, Inc. to manage the band’s business dealings in 1993, a financial agreement was made to clearly state ownership percentages to ensure everyone knew their respective compensation splits. Thompson and Trotter took 37 percent of stakeholders’ interest, while member rapper Malik Smart (who died in 2020) and Hubbard retained 17 percent each. However, in addition to that, the lawsuit claims Hubbard was to be granted 25 percent of the group’s recording and publishing earnings, as well as a 33 percent stake in the band’s touring performance company.

The lawsuit presented by Hubbard’s widow and estate is seeking “restitution for property, money, and benefits” that were not provided to him as outlined in the paperwork. While the matter is being litigated, they are requesting that the courts “freeze” The Roots’ trademark “until a value can be determined for the brand.”

Hubbard departed from the group in 2007 to seek medical care after being diagnosed with blood cancer, and later died in 2021. The suit alleges that beginning in 2014 up to the current day, Thompson, Trotter, and others, “through a pattern of racketeered behavior, fraudulently converted, divested and absconded with monies lawfully belonging to the Plaintiff Decedent.”

The lawsuit also accuses the musicians of forming a new business, Legendelphia, in 2013, to allegedly transfer funds from their business Grand Negaz, all without the approval of Hubbard. As for where Live Nationa and Universal Music Publishing Group is named, the suit accuses Gee of “deactivating Hubbard’s personal royalty account.” It also accuses that Gee, Thompson, and Trotter of “sending a letter be written from Legendelphia to Universal Music Publishing Group to divert Hubbard’s royalties to Legendelphia” instead of Grand Negaz, Inc.

No public statement has been released by The Roots, Thompson, or Trotter. All parties declined Rolling Stone‘s request for comment.

Black Sheep File $750M Lawsuit Against Universal Music For Unpaid Royalties

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According to an exclusive report from Rolling Stone, Native Tongue family favorites Black Sheep have filed a large class action lawsuit against Universal Music Group over unpaid royalties related to a side deal that the global music giant allegedly made with Spotify.

Black Sheep, which is Dres and Mista Lawnge, says that UMG owes them and their entire artist roster over $750 million for breach of contract after allegedly accepting cash and company stock from Spotify in exchange for music from their artists. Black Sheep claim that UMG only counted the cash given when distributing royalty payments.

Black Sheep also allege in the lawsuit that the “previously undisclosed” deal violated their deal with Polygram, a subsidiary of Universal, going all the way back to when they signed their original record deal. The lawsuit says that Universal owes 50 percent of all net receipts related to the duo’s music.

“In the mid-2000s, Universal struck an undisclosed, sweetheart deal with Spotify whereby Universal agreed to accept substantially lower royalty payments on artists’ behalf in exchange for equity stake in Spotify – then a fledgling streaming service,” the lawsuit states.

“Yet rather than distribute to artists their 50 percent of Spotify stock or pay artists their true and accurate royalty payments, for years Universal shortchanged artists and deprived plaintiffs and class members of the full royalty payments they were owed under Universal’s contract.”

The lawsuit continues, “For approximately a decade, Universal omitted from the royalty statements Universal issued to plaintiffs that it had received Spotify stock in connection with the ‘use or exploitation’ of Black Sheep recordings.”

A Universal spokesperson called the allegations “fake and absurd” in a statement to Rolling Stone.

“Universal Music Group’s innovative leadership has led to the renewed growth of the music ecosystem to the benefit of recording artists, songwriters and creators around the world,” the statement read. “UMG has a well-established track record of fighting for artist compensation and the claim that it would take equity at the expense of artist compensation is patently false and absurd. Given that this is pending litigation, we cannot comment on all aspects of the complaint.”

Spotify did not respond for comment.

Universal owns a $1.7 billion stake in Spotify according to a 2021 Universal report and Black Sheep’s suit claims that a “substantial portion” originates from the shares Universal and its subsidiaries acquired in or around 2008.

The post Black Sheep File $750M Lawsuit Against Universal Music For Unpaid Royalties appeared first on The Source.

Classic Rap Duo Black Sheep Spearheads A $750 Million Class Action Lawsuit Against Universal Music Over Spotify Royalties

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Three-quarters of a billion dollars are on the line in a new class-action lawsuit filed against Universal Music Group, according to Rolling Stone. The suit is spearheaded by classic rap duo Black Sheep, who are best-known for their 1991 hit “The Choice Is Yours (Revisited).” The duo was also part of the Native Tongues collective which included A Tribe Called Quest, De La Soul, and Queen Latifah.

Their lawsuit alleges Universal Music Group accepted both cash and company stock from Spotify in exchange for its labels’ music, but only paid royalties to its artists from the cash received from Spotify, cutting artists out of more than $750 million in royalties. Black Sheep argues that this violates the original terms of their 1990s contract with Polygram (since folded into the UMG umbrella), under which the label would have paid 50 percent of all net receipts from Black Sheep’s music.

The suit claims, “In the mid-2000s, Universal struck an undisclosed, sweetheart deal with Spotify whereby Universal agreed to accept substantially lower royalty payments on artists’ behalf in exchange for equity stake in Spotify – then a fledgling streaming service. Yet rather than distribute to artists their 50 percent of Spotify stock or pay artists their true and accurate royalty payments, for years Universal shortchanged artists and deprived plaintiffs and class members of the full royalty payments they were owed under Universal’s contract. For approximately a decade, Universal omitted from the royalty statements Universal issued to plaintiffs that it had received Spotify stock in connection with the ‘use or exploitation’ of Black Sheep recordings.”

According to the documents filed in Manhattan federal court, Universal valued its stake in Spotify at around $1.7 billion as of September 2021, with “substantial portion” of that coming from the above-mentioned deal. Since Universal could have withheld royalties from “thousands of artists” that have been signed to UMG’s subsisdiaries over the years, Black Sheep says they don’t know the “exact size” of the lawsuit’s possible class but that certification is forthcoming and that Universal’s records can reveal more information once subpoenaed.

The implications of this lawsuit could be massive, as streaming royalties have been at the center of numerous controversies at DSPs like Spotify, Apple Music, and Tidal for years.

Black Sheep Files $750Mil Lawsuit Against UMG Over Unpaid Royalties: Report

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Usually, it’s good to hear about iconic Rap groups, but Black Sheep isn’t surfacing for a walk down Hip Hop’s memory lane. Instead, the classic duo—which includes Andres “Dres” Vargas Titus and William “Mista Lawnge” McLean—is reportedly suing Universal Music Group. According to a report by Rolling Stone, the pair have filed a $750 million class action lawsuit against UMG over unpaid royalties.

Black Sheep claims that UMG worked out a deal with Spotify that shortchanged artists in the long run. Universal is accused of exchanging music from artists for cash and Spotify stock.

Read More: Universal Music Sued Over Royalty Payouts For Kanye West’s “Power”

The rappers also allege they weren’t advised of this side deal; thus, it violates their contract with UMG’s subsidiary, Polygram.

“In the mid-2000s, Universal struck an undisclosed, sweetheart deal with Spotify,” the lawsuit reportedly reads. “Universal agreed to accept substantially lower royalty payments on artists’ behalf in exchange for equity stake in Spotify – then a fledgling streaming service.”

“Yet rather than distribute to artists their 50 percent of Spotify stock or pay artists their true and accurate royalty payments, for years Universal shortchanged artists and deprived plaintiffs and class members of the full royalty payments they were owed under Universal’s contract.”

NEW YORK, NEW YORK-October 1: Hip-Hop Duo Black Sheep’s Mista Lawnge (William McLean) and Dres (Andres Vargas Titus) appear in a portrait taken on October 1, 1994 in Brooklyn, New York City. (Photo by Al Pereira/MIchael Ochs Archives).
Read More: Universal Music Group Pulls Catalog From TikTok Rival Triller

Following Rolling Stone‘s report, a UMG spokesperson denied Black Sheep’s claims.

“Universal Music Group’s innovative leadership has led to the renewed growth of the music ecosystem to the benefit of recording artists, songwriters and creators around the world,” they said.

“UMG has a well-established track record of fighting for artist compensation and the claim that it would take equity at the expense of artist compensation is patently false and absurd. Given that this is pending litigation, we cannot comment on all aspects of the complaint.”

[via]

Drake Reportedly Signed A New Deal With Universal Music Group For $400 Million

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The biggest star in hip-hop just made the biggest move of his career. Variety reports that Drake has signed a new deal with Universal Music Group that could be worth up to $400 million. During a first-quarter earnings call, the company’s chairman Sir Lucian Grainge announced the deal, which is described as an “expansive, multi-faceted” endeavor “that encompasses recordings, publishing, merchandise, and visual media projects.” Drake had completed the deal in 2021 but it looks like he won’t be taking Russ’ advice anytime soon after re-upping for a “Lebron-sized” payday, which Variety’s sources say could reach that above-mentioned figure.

Drake’s signing follows the announcement of a similar deal by his Toronto compatriot The Weeknd (who may soon be going by just Abel). Earlier this year, it was reported that The Weeknd had also signed a similar expansion of his prior deal with Republic (a subsidiary of Universal) which would likewise cover “recorded music, publishing, merchandise, and video.” These deals have become quite popular, according to Variety, as a way for major labels to keep the industry’s biggest stars under their umbrellas as technological advances and cultural shifts have begun enticing more and more artists to strike out on their own outside the label system (i.e. Russ).

Even among those who haven’t commanded the sort of mind-boggling streaming success Drake has, bigger deals are keeping rappers like Lil Durk and Trippie Redd closer to home. Not for nothing, Trippie Redd’s label, TenThousand Projects, is also a subsidiary of Universal, while Durk’s imprint, Alamo, is under Sony. If the major labels are throwing around this kind of money (while buying up pieces of the various DSPs), it looks like their continued dominance over the music industry will remain assured for some time to come.

The Weeknd Expanded His Partnership With UMG To Include Publishing, Merchandise And Audiovisual Releases

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Fresh off a massive headlining performance at Coachella, in which he was basically the only artist who could replace Kanye West after a last-minute cancelation, The Weeknd no longer has to prove his star power. The self-proclaimed Starboy (sorry, had to) is locked into a massive deal with Universal Music Group, who have doubled down on their partnership with the artist. Given his excellent new album, Dawn FM, and 2020’s massive release, After Hours, it’s not surprising that UMG now wants to partner with Abel Tesfaye on all “recorded music, publishing, merchandise and video.”

According to Variety, UMG will remain The Weeknd’s home for all things label-related, and take over his future music publishing rights once a deal with Kobalt expires. Universal’s merchandising arm, Bravado, will work with XO on “global merchandising, branding, ecommerce and retail licensing opportunities around future projects and releases.” Also, Republic and UMG will handle all future audiovisual projects. So basically, everything he might get into over the future course of his career.

UMG chairman and CEO Lucian Grainge said the following about the partnership: “Over the past decade, we have been honored to work so closely with Abel, who has quickly become one of music’s most creative and important artists—a once-in-a-generation talent. With Sal and the XO team as our incredible partners, we’ve developed a deep trust and respect that has enabled us to successfully execute Abel’s brilliant vision.”

Anderson .Paak Is Launching A New Label Called Apesh*t

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In a hilarious faux press conference posted earlier today on Instagram, Anderson .Paak announced that he’s launching a brand new label. Dubbed Apesh*t, he explained that the name is partly an acronym for “Anderson .Paak Empire” and a reference to the fact that “we on some other sh*t.”

A press release indicated that Apeshit is indeed a partnership with Universal Music Group and that Paak’s focus is on “no gimmicks, no button-pushing, just raw talent.” An unusual success story himself, this effort definitely feels like he’s trying to find other multi-talented artists that have gone undiscovered the way he was until he broke through on Dr. Dre’s Compton album in 2015, and then with his own album Malibu in early 2016. “I’m looking for artists that can captivate an audience,” he elaborated in the Instagram video. “I want musicians. I want people that can play instruments and perform at the same time.”

Apesh*t has a website up already proclaiming itself as “A disruptive platform for the most captivating talent in the world,” as well as a new Instagram account with upwards of 6,000 followers on its first day of existence. “Do you plan on signing artists from Korea?” one of the actors in the Instagram clip asked in Korean. Paak replied in Korean with “Yes lawd!”

It feels like strategic timing to introduce Apeshit to the world as An Evening With Silk Sonic, Paak’s album with Bruno Mars as Silk Sonic, is set to arrive on November 11th. As the video comes to a close, he looks at the camera and delivers a parting thought on the venture: “The game is crazy man. This industry can be like a jungle. Snakes, tigers, rainy days, hot days…What I’m trying to say is look: If the industry is like the jungle? Well, I guess we got no choice but to go APESH*T!”