The world’s largest music rights company is teaming up with one of the world’s largest advertising agencies.
Universal Music Group has entered into a strategic partnership with publicly traded multinational advertising and public relations company WPP. The collaboration will focus primarily on audience engagement strategies.
WPP is listed on the London Stock Exchange and is described as a “creative transformation company”. It has business networks in advertising, digital marketing, media planning and market research.
WPP’s revenue is £3.6 billion ($4.5 billion) In the third quarter of the calendar (ending September 30), up 4.1% compared with the same period last year On a like basis. UMG The revenue generated is 2.870 billion euros ($3.15 billion) Growth in all departments (including recorded music, publishing, etc.) in Season 3 Annual increase of 4.9% Calculated at a fixed exchange rate.
UMG and WPP said their partnership will “harness the power of music to deliver cutting-edge audience engagement strategies to client brands”.
According to an announcement on Thursday (December 12), the new partnership brings together UMG’s family of artists and labels and UMG’s global data and insights team with WPP’s “creative scale and extensive client network to provide brands with Providing new opportunities to connect with audiences through music.”
Additionally, WPP and UMG said they will work together to “responsibly explore new ways in which artificial intelligence can better help brands and artists connect and create authentic cultural moments.”
The announcement continued: “This partnership provides WPP clients with new opportunities to connect with some of the world’s most popular artists and their music, as well as unique access to UMG’s iconic music catalog to deliver through data Driven and technological innovation unlocks more areas of amplification.”
The announcement builds on WPP’s history of successful collaboration with Universal Music Brands Group (UMGB), including their ongoing partnership with The Coca-Cola Company.
WPP and UMG have collaborated on global projects including Coke Studio and the Sprite Limelight music platform.
“Music is becoming a more powerful cultural force, and technology is rewriting the way we experience music,” said WPP chief technology officer Stephan Pretorius.
“Music is becoming a more powerful cultural force, and technology is rewriting the way we experience music.”
Stephen Pretoria, WPP
Pretorius added: “Partnering with UMG will allow us to leverage emerging technology and data insights to create truly innovative music-driven campaigns for our clients, shaping the future of brand engagement.”
“Additionally, in partnership with WPP, we will leverage and amplify the unparalleled power and influence of music for WPP’s clients and brands through new strategic initiatives and programs.”
Michael Nash, Universal Music Group
Michael Nash, chief digital officer and executive vice president of Universal Music Group, said: “This partnership brings benefits to each company’s stakeholders.
“On the one hand, by combining innovative technology with UMG’s industry-leading data insights, we can create significant new business opportunities for our artists and songwriters.
“Additionally, in partnership with WPP, we will leverage and amplify the unparalleled power and influence of music for WPP’s clients and brands through new strategic initiatives and programs.”global music business
