The hub, first previewed at the MusicAlly Connect conference earlier this year, aims to fuel the next wave of digital transformation by democratising access to learning for startups while promoting ethical innovation in the music-tech ecosystem.
UMusicLift offers curated editorial content, learning resources and pathways to connect and collaborate with the UMG team. Startups can access informative videos and articles that address key aspects of the music industry, such as licensing, processes and legal considerations.
UMG says its digital innovation team, formed in 2017, has assessed and guided more than 1 600 startups while directly aiding more than 300.
“Passionate about democratising access to learning for startups and focused on driving ethical and responsible innovation in the music-tech ecosystem, the team launched UMusicLift to help them reach the community and educate them on the nuances – licensing, processes and legalities – of the music industry,” UMG said.
UMG senior vice-president of digital innovation strategy and business development Kristen Bender, said: “We are constantly engaged with numerous startups, sharing our knowledge and advice to help them thrive in the highly complex ecosystem of the music industry. We’ve now taken many of these insights and packaged them neatly into our learning video series, 5 Things You Should Know, where we run through all the basics that music-related startups need to understand.
“This series covers the relationship between artists and labels and the structure and roles within a record company. It extends to an understanding of copyright and digital licensing, as well as valuable advice on how to maximise opportunities when pitching to UMG. We’ve supplemented these videos with curated articles delving into our current programmes, successful case studies in working with startups and further insight into our policies around areas of high interest, such as AI.
“As time goes on, we will continue to build on this library of resources featured on UMusicLift. Adding this important resource to our already broad programmatic support of early-stage entrepreneurs, we’re looking forward to continuing to support the next generation of startups.”
In other UMG news, earlier this month the major record label and TikTok struck a new agreement, following a fallout earlier this year over compensation for artists and songwriters. The agreement aims to benefit UMG’s artists and labels by bringing their music back to TikTok. It focuses on better compensation for artists, more promotion opportunities and safeguarding against AI issues.
In Q1 2024, UMG’s revenue reached €2.594m, up 5.8% year-on-year, with growth across all of its revenue segments. Recorded music subscription revenue increased by 10.7% while streaming revenue and music publishing revenue rose by 8.9% and 16.7%, respectively.
