In an effort to break global artists faster, Universal Music Group (UMG) CEO and Chairman Lucian Grainge has announced some big changes in the major powerhouse. These changes, according to Grainge, are "A bold new approach to a business that is both singularly global and regionally nuanced".
So what exactly does that mean? In a company-wide email that Grainge sent out, he laid out the main points of reorganizing their international division. Grange points out that the company is only as successful as its artists, and will therefore separate the international division into regionally focused hubs. Having this focused organization will allow artists to come to market regardless of where they are based or to what UMG label they are signed.
The major has also decided to form an Executive Management Board of key leaders from across UMG’s different units. Grange believes that the new board will "strengthen [their] ability to operate across 60 countries more nimbly". It will also allow each country and city to manage its strategies according to different patterns specific to each area.
Grainge then goes on to announce newly appointed EVP of Digital Strategy, Michael Nash. Nash joins the UMG team after a plethora of revolutionary experience in the industry. He spent 11 years with WMG where he oversaw the major’s worldwide new media projects, strategic relationships and business development. He also served as the Executive Director of the Madison Project, and was the founding CEO of Inscape.
Nash is tasked with "providing a critical link between digital strategy and operational execution", according to Grainge, who also welcomed the new EVP to the team by writing that he "is the perfect balance of creativity and expertise to help further enhance our strategy for growth".