A week following his knighting by Prince William, UMG’s top dog Sir Lucian Grainge pledges his support to music streaming.
In the latest edition of Music Week Sir Lucian Grainge, the chairman and CEO of Universal Music Group, spoke on the new market dominator in music streaming. Streaming has been a contentious issue in the music industry, but one that most naysayers are coming around to as streaming continues to grow and provide a much needed boost the global industry.
Speaking in London, following his knighthood by the Duke of Cambridge Prince William, Grainge said: “There’s opportunity everywhere. I’m not one of those who looks at change and sees it as a risk. We have to help them grow their business for all the stakeholders. We want as many options for consumers as possible.
“I believe in scale and as much competition as there can be and you’ll see that in how we’re trying to support the market and lead where we’re able.” Without support from major labels music streaming probably wouldn’t exist and that’s why Grainge is adamant that streaming services “need our help to grow and build and develop.”
Universal recently made a first by announcing that they wouldn’t allow their artists to sign exclusive deals with one streaming service as this damages sales, leaves fans left out and allows streaming success to be bought – something that Apple Music has been criticised for.