MBW’s Stat Of The Week is an article sequence in which we present why a single knowledge level deserves the eye of the worldwide music trade. Stat Of the Week is supported by Cinq Music Group, a technology-driven report label, distribution, and rights administration firm.
Major music corporations rising their companies into beforehand unexplored verticals isn’t something new. Warner Music Group, for instance, has this 12 months expanded into meme-making (through its $85m acquisition of IMGN Media) and into on-line information media (through its acquisition of HipHopDX).
That being stated, Universal Music Group’s newest transfer is very a lot out of the strange – and large in its ambition.
UMG has simply introduced that it’s launching a sequence of “music-based experiential hotel properties”, which is able to home their own reside music venues and a “music-first experience for guests”.
UMUSIC Hotels’ first three introduced places might be Atlanta, Georgia; Biloxi, Mississippi; and Orlando, Florida; with extra cities throughout the US and around the globe to come back.
The accommodations are being launched as a part of a beforehand introduced three way partnership between Universal and Dakia U-Ventures, an leisure affect funding group.
According to native Mississippi information community WLOX, the Biloxi UMUSIC lodge will rework town’s outdated Broadwater Resort “into a $1.2bn destination”.
That’s a critical degree of funding: $1.2bn is similar to the quantity that UMG posted in EBITA profitability in 2019 ($1.26bn), though clearly it’s anticipated that Dakia U-Ventures might be doing a lot of the bankrolling right here.
The Biloxi UMUSIC lodge is being constructed on a 266 acre property.
MBW’s Stat Of The Week: Universal Music Group has dedicated to launching a $1.2bn lodge in Biloxi, Mississippi. In phrases of approximate Spotify recorded music royalty payouts, producing $1.2bn would require UMG artists to clock up 300bn (300 billion) streams on the platform.
In a press launch asserting the accommodations, Universal defined: “Embodying each location’s unique spirit, the hotels will draw inspiration from their respective local culture and serve as creative hubs in communities around the world – promoting positive social change, education and innovation through the power of music.
“Guests will discover the soul of each city through its rich local music heritage. UMUSIC Hotels are committed to helping their communities thrive – creating jobs for local residents, supporting local businesses and suppliers, and creating opportunities for local artists, such as the establishment of new state-of-the-art music venues.”
It added: “UMUSIC Hotels will create immersive experiences for fans, guests and artists alike, with music and entertainment at the forefront of design and guest experience all around the globe. As part of their commitment to the local community, each property will be skillfully designed to complement the city landscape and authentically incorporate elements of the local music scene.
“The UMUSIC Broadwater Hotel in Biloxi will seamlessly integrate a stunning performance venue and a luxury hotel with an immersive architecture style. In Atlanta, the UMUSIC Hotel will include a holistic entertainment venue. UMUSIC Orlando’s design will similarly reflect a music-first experience for guests.”
“Through music’s unique power to inspire and unite – especially given UMG’s unparalleled roster of artists and labels – UMUSIC Hotels will both highlight these cities’ rich music heritages and provide new opportunities for artists to reach fans in immersive, innovative and authentic ways.”
Bruce Resnikoff, Universal Music Group
Robert Lavia, Chairman at Dakia U-Ventures LLC., stated, “Every destination holds a great story just waiting to be told through its cultural heritage and its music. Through this new concept, we will both help people discover new ways to channel their love for music and the arts and help empower the transformation of communities worldwide through cultural, inspirational, creative and conscious collaboration. And we’re thrilled to work together with Universal Music Group who shares our vision and passion about the powerful role of culture and music for each community we touch.”
Bruce Resnikoff, President and CEO of Universal Music Enterprises, stated, “Through music’s unique power to inspire and unite – especially given UMG’s unparalleled roster of artists and labels – UMUSIC Hotels will both highlight these cities’ rich music heritages and provide new opportunities for artists to reach fans in immersive, innovative and authentic ways.”
Pyramid Hotel Group has partnered with the three way partnership for the United States operations of the accommodations. Warren Fields, Pyramid’s Chief Executive Officer, added, “We’re excited to work with the Dakia U-Ventures and Universal Music Group teams to launch this new category of experiential hospitality and helping to create properties that truly embody the spirit of the communities of which UMUSIC Hotels will be a part. We share in the vision to give fans, guests and our communities best-in-class experiences around the world.”
Cinq Music Group’s repertoire has won Grammy awards, dozens of Gold and Platinum RIAA certifications, and numerous No.1 chart positions on a variety of Billboard charts. Its repertoire includes heavyweights such as Bad Bunny, Janet Jackson, Daddy Yankee, T.I., Sean Kingston, Anuel, and hundreds more.Music Business Worldwide