After months of signaling, the world's leading record label finally began cutting jobs this week.
Chairman/CEO Lucian Grainge said the social media app is just one piece "of the multidisciplinary jigsaw where we promote and market our music globally."
Phoebe Bridgers, Lucy Dacus and Julien Baker spoke about the causes important to them while accepting the Universal Music Group x REVERB Amplifier Award.
The Universal chairman/CEO also touted the company's many successes over the past year, and plans to "further evolve our organizational structure" moving forward.
In announcing UMG's new partnership with YouTube to study the effects of AI, the label's chairman and CEO sounds both an encouraging, and cautious, note.
With the "right incentive structures," platforms can eliminate "unauthorized, unwanted, and infringing content entirely," says the CEO.
The agreement takes the executive from an all-cash compensation package to one that combines cash and equity, including a one-time transition equity award worth $100 million.
The partnership, which follows a similar collaboration with TIDAL, was announced by UMG CEO Lucian Grainge on an earnings call.
The UMG chairman addressed Billboard Power 100 honorees in LA about shaking up the industry from within to benefit creatives.
In his annual New Year's letter to Universal employees, Grainge highlighted the company's successes but also called for change in an era of "bad actors."