Universal Music Group named to Fast Company's annual list of the world's 50 Most Innovative Companies for 2019 21 Feb 2019
At No. 21, Universal Music achieves the highest rank ever for a major music company and becomes the first selected for the list's elite Top 25 most innovative companies
UMG also ranked No. 1 in the music category
Universal Music Group (UMG), the world leader in music-based entertainment, has been named to Fast Company's exclusive annual list of the World's 50 Most Innovative Companies for 2019, the first major music company to be included on the list in a decade.
At No. 21, UMG is the highest-ranking major music company ever chosen for Fast Company's list and the first to be selected in the elite Top 25 most innovative companies. UMG is also ranked No. 1 in the music category. The list honors businesses making the most profound impact on industry and culture, showcasing a variety of ways to thrive in today's volatile world.
Fast Company pointed to the success of UMG's artist roster, the global reach of its labels and new agreements with leaders in tech and entertainment: "Amid the music industry's digital transformation, Universal is redefining what a modern label should look like."
Fast Company added, Universal Music Group "has played an active role in leading the music industry through a period of unprecedented digital transformation."
This year, Fast Company's editors and writers sought out groundbreaking businesses across 35 industries and every region. They also judged nominations received through their application process. The World's Most Innovative Companies is Fast Company's signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.
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THE HEADLINES
Is the US too reliant on paid subscriptions? (see Analysis)
Misogyny, sexual discrimination and harassment are still everyday problems for female musicians (see Reports)
Believe's board asks Warner Music Group to make acquisition offer (see Business)
Why are IFPI & MIDiA’s 2023 revenue figures so far apart? (see Analysis)
IFPI: Global recorded music revenues grew 10.2% in 2023 (see Reports)
How have one-hit wonders changed over time? (see Analysis)
TikTok: MPs raise concerns about UK ownership (see News); AI ambitions (see Digital); UK Artist Playbook (see Reports)
The composer with 650 different names identified as Sweden’s most-listened-to artist on Spotify (see Digital)
Recorded Music Market report shows 9.8% growth in 2023 (see Reports)
Spotify updates its Loud & Clear website with 2023 data (see Reports)
Murmur launches with pledges to drive change in environmental solutions (see News)
Global music revenue continued to rise in 2023. So why are some music organisations sounding the alarm? (see Comment)
Can Sweden keep its edge in the music industry? (see Features)
Industry welcomes Labour Party's pledges to the music sector (see News)