Universal Music UK restructures, merging Island and EMI labels whereas launching new Audience and Media Division

Jul 9, 2024 | blog

since the start of this year has housed the East Coast-based Republic Corps (led by enterprise a company “redesign” program which it says will end in EUR €75 million (USD $81 million) of annual cost-savings in 2024 vs. 2023.

Those annual value financial savings (vs. 2023) will then develop to €125 million in 2025, earlier than finally reaching €250 million by the tip of 2026, the corporate has informed its traders.

Universal is just not alone in restructuring: dedicated to chopping 600 staff by the beginning of September this yr, although the vast majority of these layoffs will happen through WMG’s offloading of its owned media properties, UPROXX and HipHopDX.

Warner Music Group world CEO, confirmed that it had agreed the sale of UPROXX to a bunch led by the model’s founder, Jarret Myer, for an undisclosed sum.

Last yr, introduced that it was merging former frontline label Parlophone into Music Business Worldwide

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