Austin Hargrave
UMG Executive Committee’s Big Payday

Universal Music Group’s 11-person executive committee was paid a total of $128.4 million in short-term employee benefits -- most likely salaries and bonuses – in 2020, according to financial information released by the music group’s parent company Vivendi. When post-employee benefits and share-based payouts are added, that total jumps to $132 million -- almost double the $62.2 million paid to the executive team in 2018.

According to the UMG website, the executive team consists of UMG chairman/CEO Lucian Grainge; executive vp Michele Anthony; chairman/CEO of Central Europe and Deutsche Grammophon, Frank Briegmann; executive vp and general counsel Jeffrey Harleston; executive vp and chief people and inclusion officer Eric Hutcherson; United Kingdom and Ireland chairman/CEO David Joseph; executive vp marketing Andrew Kronfeld; executive vp/CFO Boyd Muir; executive vp digital strategy Michael Nash; executive vp/chief administrative officer Will Tanous; and Universal Music Publishing Group (UMPG) chairman/CEO Jody Gerson.

The financial data drop, which Vivendi likely released in preparation for UMG’s expected to become publicly traded in late-September, does not specify how that $128.4 million was divvied up among the 11 executives. Were it distributed equally (it’s not), it would amount to an $11.7 million 2020 payday for each executive -- not enough to buy happiness, perhaps, but sufficient to purchase a yacht that would float pretty close.

Financial observers note that executive team compensation expected to look even richer once UMG goes public, as the company will probably have its own management incentive stock plan. But as things stand now, UMG's executive team likely received higher salaries due because they don’t have such a management incentive stock plan. In order to attract and maintain top talent, UMG has to compete with the Warner Music Group, which does have a management incentive stock plan that will someday deliver hundreds of millions of dollars to its upper management team. Also, the salary structure for the executive management board probably reflects the value that the team has created down through the years through its management of UMG: In 2013 Softbank offered to buy UMG from Vivendi for $8.5 billion; currently, UMG is valued at about $40 million.
 

UMG’s total personnel costs in 2020, including the executive management team, were $1.42 billion of which $1.2 billion went to salaries – 17.6% of the companies $8.04 billion in revenue.

Last year, Universal carried on average 8,800 employees, up from 8,400 in 2019 and 7,900 in 2019. If the executive team’s compensation is excluded from overall salaries and total benefit compensation, that works out to an average salary of $121,000 and an average benefits package -- which also includes social security and other employee costs -- of $147,000. But, again, this is still skewed somewhat higher by salaries and bonuses paid to label chairman like Republic’s Monte Lipman and Interscope’s John Janick, which are generally not disclosed. (The foreign currency translations used in this story are based on the annual average exchange rates experienced by Vivendi and quoted in the company’s annual financial results for the year of 2020 -- 1 euro to $1.13; and 2018 -- 1 euro to $1.187.)

UMG declined to comment . --Ed Christman

 

Joni Chats With Clive At Grammy Gala

When part two of Clive Davis’ invitation-only virtual Pre-Grammy Gala takes place on May 15 -- the day before the awards ceremony was originally scheduled to take place -- the festivities will include a prerecorded interview with Joni Mitchell that was conducted by the master of ceremonies. A source in Davis’ camp says that during the conversation, Mitchell, 77, cites Édith Piaf and her early exposure to Black artists as influences on her jazz-influenced style of songwriting. While growing up in Alberta, Canada, she tells Davis, “There was a sideshow when the fair came to town called Harlem in Havana. We were all forbidden by our parents as kids to be seen even standing there watching because it was Black burlesque,” she recalls. “But they played a really sexy version of [Jimmy Forrest’s] ‘Night Train’ and that piece of music really affected my writing,” she explains.

Larry Busacca/Getty Images for NARAS
Joni Mitchell (L) and Sony Music Entertainment CCO Clive Davis arrive at the 55th Annual GRAMMY Awards Pre-GRAMMY Gala and Salute to Industry Icons honoring L.A. Reid held at The Beverly Hilton on Feb. 9, 2013 in Los Angeles.

 

When Davis asks for Mitchell’s reaction to the multitude of artists who have been influenced by her work and covered her songs, Mitchell, who has given few interviews since recovering from a 2015 aneurysm that affected her speech and ability to walk, says that she was told repeatedly over the course of her career, “Nobody is ever going to cover your songs. They are too personal.”

Other artist conversations slated for the gala include Queen’Brian May and Roger TaylorElton JohnPaul Simon, H.E.R.DaBabyCarlos SantanaRob ThomasDave GrohlDionne WarwickSlash and Donovan--Frank DiGiacomo

 

Sharon Osbourne has revealed that Ozzfest is set to return in 2027, shortly before the festival makes its way back to the United States.

The very first Ozzfest was held in October 1996 as a two day event before growing into a full touring festival the following year. It continued as a yearly run until 2018, with that final edition featuring performances from Rob Zombie, Marilyn Manson, DevilDriver and Black Sabbath frontman Ozzy himself.

Only a few days after confirming that Ozzfest would “absolutely” make a comeback, Sharon, the music manager and widow of Ozzy, shared that the festival is scheduled for 2027. “We wanna do two days in Aston Villa and then come to America,” Sharon said while speaking to her son Jack on The Osbournes podcast. “Then we wanna hear from everyone where we should go in America”.

“We’ve got to find a lot of young, new talent, because that’s what’s your dad would want”, Sharon added.

They also explained that Ozzfest 2027 will not operate as a travelling festival. Sharon mentioned that the idea of turning it into a tour could be explored in 2028. “See how it does, and if people want it, we’ll be there”, she said.

Sharon and Jack also spoke about the possibility of expanding the festival to India. “They just did Lollapalooza and it smashed,” Jack said. “I saw Yungblud after he got back and he said it was the craziest thing.” “He saw so many Ozzy and Sabbath T-shirts,” Sharon replied, adding that it is exciting to see the music reaching new places. “It’s great, the way that countries that didn’t recognise the music before now are all being turned on – it’s this young generation. It’s amazing, it’s incredible”.

Watch the exchange down below:

In January, Sharon shared that she had been thinking about reviving Ozzfest, noting: “It was something Ozzy was very passionate about: giving young talent a stage in front of a lot of people.”

“We really started metal festivals in this country,” she continued. “It was [replicated but] never done with the spirit of what ours was, because ours was a place for new talent. It was like summer camp for kids.”

The festival continued until 2018, when Sharon explained that the financial demands from some artists involved had become too excessive.

“We made a profit. But it was not like – we couldn’t retire on it,” she said. “And managers and agents wanted more and more and more, and it just wasn’t cost-effective anymore. We stopped because it just wasn’t cost-effective.”

She also described some of the requests she encountered from certain managers, recalling that one artist even refused to perform unless they were paid an additional $10,000.

Elsewhere, watch Robbie Williams lead an Ozzy Osbourne tribute at BRITs 2026 with ‘No More Tears’.

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