Rock band Aerosmith and Universal Music Group sign alliance deal
PARIS, August 23 (Reuters) – Hard rock band Aerosmith and Universal Music Group (UMG) have announced that they have signed a strategic and global alliance agreement, through which the entire catalog of recorded music from Aerosmith is transferred to UMG before the 50th anniversary of the group and the IPO of UMG. next month.
UMG will also host future musical projects and derivative products from Aerosmith, and will work with the group on new film, television and audiovisual content.
“Aerosmith’s worldwide success places them in thin air among the greatest rock icons of all time,” said UMG President and CEO Sir Lucian Grainge.
“On a personal note, I couldn’t be more proud that they chose UMG as their global partner,” he added.
Since the group was founded in Boston in 1970, they have sold over 150 million albums worldwide.
It was the first rock band with a commercially successful hip-hop collaboration with Run DMC on “Walk This Way”.
“This is a victory for Aerosmith, UMG and ultimately our fans. Needless to say we are very excited. It’s an amazing way to celebrate 50 years and the many years to come,” said Joe Perry, co-founder and Aerosmith guitarist.
UMG is the world’s largest music company, with artists including Billie Eilish, Post Malone, Lady Gaga and the Rolling Stones.
French media giant Vivendi is planning an initial public offering (IPO) for UMG in September, and earlier this month billionaire hedge fund manager William Ackman bought 7.1% of UMG from Vivendi. Read more
Reporting by Dominique Vidalon; Editing by SudIP Kar-Gupta
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