Lucian Grainge Latest Celebrity News & Gossip

Jem Aswad Senior Music Editor Driven by big releases from Morgan Wallen, Taylor Swift, Tomorrow X Together, Drake and others, Universal Music Group saw its revenues rise 11.5% year over year to $2.71 billion in the first quarter of 2023. But the company’s earnings call on Wednesday was just as newsworthy for the company doubling down on the strong remarks it has made about the fast-rising presence of — some would say threat from — AI in the music world, which hit UMG in the form of “Heart on My Sleeve,” a song using AI-generated soundalikes of two of the company’s biggest artists, Drake and the Weeknd.  “The recent explosive development in generative AI will, if left unchecked, both increase the flood of unwanted content hosted on platforms, and create rights issues with respect to existing copyright law, in the U.S. and other countries, as well as laws governing trademark, name and likeness, voice impersonation, and right of publicity,” chairman-CEO Lucian Grainge said on the call. 

Lionel Richie is one happy dad.

Lionel Richie couldn't be happier for his little girl and her new husband.The judge spoke with ET's Matt Cohen in Hollywood on Monday, after the season's first live show, and the legendary singer opened up about walking daughter Sofia Richie down the aisle this past weekend, in her wedding to Elliot Grainge.«This is [my] baby girl,» a beaming Lionel said of the deep significance of the event. «All I can say to you is, for every dad that's ever been this way or getting ready to experience it, it is a humbling time in your life. Because you're handing one of the loves of your life away.»«But really, I'll tell you a story, I've known Elliot since he was 9,» Lionel explained.

, 24, is a model and social media personality, and the daughter of 73-year-old R&B legend . The British-born Grainge, 29, is the founder of 10K Projects, an L.A.-based record label whose current artists Ice Spice, Between Friends, Internet Money, and Natalie Jane. Grainge is also the son of Sir Lucian Grainge, current chairman and CEO of Universal Music Group.

Just married! Sofia Richie and Elliot Grainge are officially married after tying the knot in a ceremony held on the French Riviera.

Ready to say “I do!” Sofia Richie and Elliot Grainge kicked off their wedding weekend on Friday, April 21.

Sofia Richie and her fiance Elliot Grainge are rumored to be getting married any day now and he just made some rare comments about their relationship!

Sofia Richie and her fiancé Elliot Grainge are having some fun in the sun ahead of their big day!

Sofia Richie converted to Judaism.

Jem Aswad Senior Music Editor Universal Music Group announced on Wednesday that its Board of Directors has extended the contract of Lucian Grainge, the company’s chairman and CEO, until May 1, 2028. According to the announcement, the “extended and amended” agreement transitions Grainge from an all-cash compensation package to one that is a combination of equity and cash and includes an equity compensation program with “a broad set of performance-based objectives aligned with shareholders’ interest and corresponding to the company’s long-term growth strategy. To assure the compensation program is aligned with shareholders’ interest, the majority of the compensation package’s economic value will be paid in UMG equity and UMG performance-based stock options.” Grainge’s annual salary under the new agreement will be reduced by more than two-thirds from his current salary, to $5 million, the announcement continues. Subject to the achievement of performance criteria, he will be eligible for an annual bonus with a target of $10 million. The EBITA bonus from his prior employment agreement has been eliminated and Grainge will only be entitled to the contingent bonus under his prior employment agreement on a pro rata basis until March 31, 2023. The equity components of the program include annual grants of $20 million, comprised of as much as 50% Performance Share Units (PSUs) — with annual PSU goals set by the Board of Directors — and the remainder comprised of Restricted Share Units (RSUs). 

Hundreds of celebs were in attendance at the 2023 Vanity Fair Oscar Party, making it one of the most star-studded events of the year!

ABBA‘s Voyage virtual concert experience could be making its way around the world.Universal Music Group chairman Lucian Grainge revealed in a company earnings call per Variety on Thursday (March 2): “Plans are now in development to take ‘ABBA Voyage’ around the world”. No other information – including targetted cities, venues and dates – has been announced.ABBA’s Voyage experience debuted at the ABBA Arena in London in May 2022.

ABBA’s heading across the world!

Jem Aswad Senior Music Editor ABBA’s ‘Voyage’ virtual concert — which opened in a specially built London arena last May and has sold more than 1 million tickets — will go on a global tour, Universal Music Group chairman Lucian Grainge confirmed during the company’s earnings call on Thursday. “Plans are now in development to take ‘ABBA Voyage’ around the world,” Grainge said on the call. Presumably, that means the show will be playing in specially modified arenas in major cities across the globe. Contacted by Variety, reps for ABBA and Universal, the group’s label, did not immediately have further information. While details are slim and the news is not a shock, it is the first official confirmation that the show — a multi-multi-million-dollar project, nearly six years in the making, that saw George Lucas’ Industrial Light & Magic using motion-capture technology to create “ABBA-tars” of the group as they looked in 1979 playing a 90-minute concert of their most-loved songs — will play somewhere besides the London theater. While technically not a hologram show, “Voyage” represents a new peak in that type of technology — the four bandmembers, who are now in their seventies, spent many hours performing for the motion-capture cameras to appear as lifelike as possible. It has received rave reviews nearly across the board.

Shirley Halperin Executive Editor, Music Universal Music Group is home to dozens of labels spanning every genre, from pop to hip-hop, rock to R&B, country to Latin and niche styles like Christian, classical and Jazz. To run one of these companies is to associate with top talent — household names like Taylor Swift, Billie Eilish, Drake and Lady Gaga — and the pressure to perform is equally massive. Which makes a label like Verve, which launched in the 1950s with the music of Ella Fitzgerald — and whose current roster includes left-of-center signings like Tank and the Bangas, Kurt Vile and Arooj Aftab — a sort of refuge in the giant commercial enterprise that is the world’s biggest music company. But Verve’s value to UMG is significant, and this is not lost on Sir Lucian Grainge, its chairman and CEO, who has given the label the leeway to invest in traditional artist development. What does that mean? For some familiar context: it’s letting an artist like Bruce Springsteen put out two albums achieving less-than-stellar sales so that he can reach a “Born to Run,” his third and career-launching release. Verve has its own success stories that follow this trajectory, like Jon Batiste, the former Stephen Colbert bandleader and master musician from New Orleans, whose “We Are” won album of the year at the 2022 Grammys.

CMU’s Andy Malt and Chris Cooke review key events in music and the music business from the last week, including Universal Music boss Lucian Grainge’s confirmation that a big old rejig of the way streaming monies are allocated to individual tracks by the digital platforms each month is a key priority for the biggest music rights company in the world, plus Dr Dre’s legal run-in with US Congress member Marjorie Taylor Greene.SECTION TIMES01: Lucian Grainge (00:06:51)02: Dr Dre (00:32:03)(Timings may be slightly different due to adverts)SUBSCRIBE TO SETLISTListen to Setlist and sign up to receive new episodes for free automatically each week through any of these services…Acast | Amazon Music | Apple Podcasts | audioBoom | CastBox | Deezer | Google Podcasts | iHeart | Mixcloud | RSS | Spotify | Stitcher | TuneInSTORIES DISCUSSED THIS WEEK• Universal boss says streaming needs to shift to an “artist-centric” model• Dr Dre sets lawyers on Marjorie Taylor Greene over copyright infringement• Marjorie Taylor Green responds to Dr DreALSO MENTIONED• Public Image Ltd vying to represent Ireland at Eurovision• Eurovision hopeful John Lydon brands competition “disgusting”MORE FROM CMU• Upcoming CMU webinars• Buy MMF and CMU Insights’ Dissecting The Digital Dollar book on Amazon• Sign up to receive the CMU Daily news bulletin• Listen to the full Setlist theme tune

DEALSNew Order managers Rebecca Boulton and Andrew Robinson have announced a new partnership with SJM Management to co-manage the band. “We have sought to future proof the band’s management and protect their legacy so the merger with SJM management is a good fit and maintains our independent sensibilities”, says Boulton and Robinson.————————————————–APPOINTMENTSLondon’s Royal Albert Hall has appointed James Ainscough as its new CEO. Formerly COO of the venue, Ainscough is currently CEO of Help Musicians and will move into his new role in the spring.

Jem Aswad Senior Music Editor Days after top YouTube exec Robert Kyncl was named as the next CEO of Warner Music Group, the company revealed in an SEC filing that he will earn approximately $15 million in his first year on the job, depending on performance targets. When Kyncl’s name was first mentioned as a potential successor to outgoing CEO Stephen Cooper, who leaves after 11 years in the role, many wondered whether the job would be sufficiently appealing for the executive who led Netflix from DVDs to streaming and has been YouTube’s business chief for much of his 12 years at the company. However, the SEC filing makes clear that the job is financially appealing: He will receive a base salary of $2 million, a target performance-based bonus of $3 million and an annual grant of performance share units with an aggregate, pre-tax value of $10 million.

Jem Aswad Senior Music Editor Universal Music Group has announced the launch of the Virgin Music Group, a new global division comprised of Virgin Music Label & Artist Services, Ingrooves Music Group and Mtheory Artist Partnerships. The third element is new to UMG: It has acquired Mtheory’s bespoke label division, Mtheory Artist Partnerships, although its manager services business is not part of the transaction and will remain wholly independent. Terms of the deal were not disclosed.   The Virgin Music Group, which brings the company’s label and artist services businesses under one unit, will be overseen by Mtheory founders JT Myers and Nat Pastor as co-CEOs, who will report directly to UMG Chairman and CEO Lucian Grainge. A specific breakdown of the units is below.

Sofia Richie is enjoying a night on the town with family!

Jem Aswad Senior Music EditorUniversal Music Group racked up a strong earnings report for the second quarter of 2022, with about $2.7 billion in revenue, a growth of 17.3% in year-over-year in constant currency, a percentage gain that carries over for the entire first half of the year.Recorded-music revenues were up 16.2% (9% in constant currency) to around $1.96 billion, with streaming subscription revenue up 14.6% to $986 million. Subscription revenue saw a boost from a “DSP catch-up payment” (possibly from the Copyright Royalty Board’s confirmation of its 2018 streaming publisher rate increase) amounting to nearly $42 million in revenue and $26 million in both EBITDA and adjusted EBITDA.

Sofia Richie will one day walk down the aisle with her millionaire boo Elliot Grainge. The daughter of Lionel Richie searched for love with celebs like Justin Bieber and Scott Disick before finding the right person. They were first spotted in January 2021, went official in April, and after a year, they confirmed their engagement on April 20, 2022.

Future and Drake have shared the medieval-inspired new video for their collaboration ‘Wait For U’ – you can watch the clip below.The track, which also samples Tems, is taken from Future’s new album ‘I Never Liked You’, which was released last week (April 29).The video for ‘Wait For U’, which has been directed by Director X and produced by Taj Critchlow, was released last night (May 5) and stars Future, Drake, singer-songwriter Moxie Raia, model Cece Rose, producer ATL Jacob, rapper Strick and the comedian Trey Richards.Set in the medieval period, the clip tells “The Tale of the Toxic King” and follows Future as he goes through relationship issues with his queen. Drake, meanwhile, is seen at one point in the video riding a horse and saving a woman’s life.You can watch the video for Future and Drake’s ‘Wait For U’ above, and see behind-the-scenes shots from the video shoot on Drake’s Instagram below.A post shared by champagnepapi (@champagnepapi)Future’s ‘I Never Liked You’ also features guest appearances from Gunna, Young Thug, Kodak Black and Kanye West.

Drake has reportedly signed a huge new deal with Universal Music Group.According to Variety, UMG chairman Sir Lucian Grainge confirmed the deal in a Q1 earnings call yesterday (May 3). The outlet has described the deal with Drake as an “expansive, multi-faceted deal with the company that encompasses recordings, publishing, merchandise and visual media projects”.One insider described the Drake deal to Variety as “Lebron-sized,” in reference to LeBron James’ $154million (£123million) NBA deal to join the LA Lakers in 2018, without putting a number on it.The agreement is believed to be similar to The Weeknd‘s recent long-term deal with Universal.

Shirley Halperin Executive Editor, MusicYou wouldn’t know it from Sir Lucian Grainge’s tone in today’s Universal Music Group Q1 earnings call, but the chairman of the world’s biggest music company confirmed what had long been expected, but never to be announced: that Drake has entered into an expansive, multi-faceted deal with the company that encompasses recordings, publishing, merchandise and visual media projects.Such “expanded portfolios,” as Grainge noted in the call, spanning multiple creative lanes and revenue streams, also include the recently-announced extension and expansion of the Weeknd’s deal with UMG, which aligns him — like Drake — with Republic Records.Of course, the nagging question is: how big is Drake’s bag? One insider describes the arrangement as “Lebron-sized,” without putting a number on it. Drake himself has seemingly referenced such a deal in the lyrics to “Lemon Pepper Freestyle” (off of his “Scary Hours 2” EP), which includes the lyric, “Three-sixty upfront, it all comes full circle” — or $360 million.

Jem Aswad Senior Music EditorUniversal Music Group has announced a long-term partnership with the Weeknd encompassing recorded music, publishing, merchandise and video, the company has announced.The deal further builds upon the artist’s relationship with UMG’s Republic Records, which has been his label home and partner since 2012 and “will remain his label partner for future recorded music releases,” according to the announcement. It also will see Universal Music Publishing administer all of the Weeknd’s future works and songwriting catalog in a new long-term deal, upon expiration of his existing commitment with Kobalt. Bravado, UMG’s brand-management and merchandise company, will continue to work closely with the Weeknd and XO to expand and develop global merchandising, branding, ecommerce and retail licensing opportunities around future projects and releases.

Lionel Richie has spoken! And the American Idol judge is markedly less judgmental when it comes to his baby girl’s new man!

Keeping Up With the Kardashians spin-off Flip It Like Disick, has watched not one, but two, of his exes get engaged in the past six months. To people who are not him. After an on-again, off-again relationship that spanned nearly 11 years, Kourtney moved on for good.

OMG! Huge congrats are in order as Sofia Richie just dropped the news that she is ENGAGED!

Sofia Richie has announced her engagement to boyfriend Elliot Grainge and showed off her huge engagement ring.The model, 23 - who previously dated Scott Disick - announced her engagement to entrepreneur boyfriend Elliot, 27, after one year together with the couple sharing sweet photos of the moment to social media. Sofia shared a snap of her husband-to-be getting down on one knee with the caption “forever isn’t long enough”, as the couple were surrounded by a picturesque sunset.The star also shared a photo of the couple kissing as she showed off her giant engagement ring, as friends and followers flooded the post with comments.

Jem Aswad Senior Music EditorMushroom, Australia’s largest independent label group, and Virgin Music Label & Artist Services, a division of Universal Music Group, have announced a multi-layered global partnership to support and distribute Mushroom artists’ releases worldwide, outside of Australia and New Zealand.Under the terms of the agreement, VLMAS will provide promotion, marketing and audience label services to Mushroom’s existing US and UK infrastructure. In addition, selected Mushroom artists’ releases will be issued through UMG’s major label network, when agreed by both parties.Mushroom’s Chief Executive, Matt Gudinski said “Mushroom has been a market leader for decades in Australia and today we take another huge step in building Mushroom into a truly global brand.

Artist: Miley Cyrus Accolades: A feature on 2021’s “Without You,” a duet with the Kid Laroi, was Cyrus’ first No. 1 song since 2013Out: Adam Leber, who represented the artist for a decade, during which she had a No. 1 album, “Bangerz,” which yielded two massive singles (“We Can’t Stop” and “Wrecking Ball”); major hosting gigs (VMAs, “SNL”) followed.

Jem Aswad Senior Music EditorThe world’s largest music company, Universal Music Group, posted a record $9.4 billion in revenue for 2021, the company announced in its earnings report on Thursday. That marks a 14.4% increase over 2020, although comparisons with the pandemic year are obviously skewed.Recorded music revenues were up 14.3% to around $7.52 billion, while streaming soared nearly 17% to just under $5 billion.

Neil Diamond has sold his entire songwriting and recording catalogue to Universal Music Publishing Group for an undisclosed amount.In addition to his publishing and masters, the deal includes 110 unreleased tracks, an unreleased album, and archival video footage.According to Rolling Stone, UMG will also handle any future Neil Diamond music if the musician decides to record any new music.“After nearly a decade in business with UMG, I am thankful for the trust and respect that we have built together and I feel confident in the knowledge that Lucian, Jody, Bruce, Michelle, and the global team at UMG, will continue to represent my catalog and future releases with the same passion and integrity that have always fueled my career,” Diamond said in a statement about the sale.Lucian Grainge, UMG’s chairman and CEO, added: “Neil Diamond is by definition, a truly universal songwriter. His immense songbook and recordings encompass some of the most cherished and enduring songs in music history.

Jem Aswad Senior Music EditorCity of Hope, one of the largest cancer research and treatment organizations in the U.S., will honor Republic Records founders Monte and Avery Lipman (pictured above, R-L) at its 2022 Spirit of Life Gala in the fall. The prestigious award will be presented to them at a gala dinner — the first Spirit of Life Gala since 2019.According to the announcement, the Spirit of Life Award is City of Hope’s most prestigious honor and is presented to an esteemed community of industry leaders around the world who have made a significant commitment to improving the lives of others through the advancement of research and clinical innovation and the delivery of personalized, compassionate care.

Universal Music has acquired the full recordings and publishing catalogue of Neil Diamond, expanding on their existing relationship with the musician.“After nearly a decade in business with UMG, I am thankful for the trust and respect that we have built together and I feel confident in the knowledge that the global team at UMG will continue to represent my catalogue, and future releases, with the same passion and integrity that have always fuelled my career”, he says.Universal CEO Lucian Grainge adds: “Neil Diamond is, by definition, a truly universal songwriter. His immense songbook and recordings encompass some of the most cherished and enduring songs in music history.