UMG Expands Strategic Investment in China's Most Dynamic Metropolitan Area

UMG becomes the first major music company to establish a label division in China's vibrant Greater Bay Area

BEIJING,Sept. 24,2024 -- Universal Music Greater China (UMGC),a division of Universal Music Group (UMG),the world leader in music-based entertainment has announced the launch of a new label division - Universal Music China Greater Bay Area (UMCGBA),covering China's Greater Bay Area (GBA) including Hong Kong and Macau. This pioneering initiative marks the first time a major music company has established a division in China's Greater Bay Area,the world's largest and most economically vibrant urban cluster,with its new headquarters in Shenzhen. One of the world's most dynamic music markets,Universal Music Greater China now has offices in Beijing,Hong Kong,Shanghai,Shenzhen and Taiwan to fully support the next phase of growth across the region.

UNIVERSAL MUSIC CHINA GREATER BAY AREA

Spearheaded by Gary Chan,who currently serves as Managing Director of Universal Music Hong Kong and Senior Vice-President of UMGC,the new division will help enrich the Greater Bay Area's music scene by embracing its economic and cultural vibrancy,elevating both the local and global appeal of the region's diverse musical heritage.

The Greater Bay Area,a bustling megalopolis encompassing nine cities in Guangdong province along with the two special administrative regions of Hong Kong and Macao,is the world's most populous urban area and a significant cultural hub. With a combined GDP contributing 11.1% to China's total in 2023 and a population surpassing 86 million,the GBA is a formidable economic powerhouse and cultural epicenter,accounting for nearly a quarter of China's music performance revenue. The region's rich cultural fabric,woven from a diverse range of dialects predominantly in Cantonese,has significantly shaped both local and Asian pop culture,fostering a strong connection within the region and across the global Chinese diaspora. This dynamic economic and cultural backdrop has prompted the strategic expansion of UMCGBA.

UMCGBA will assemble a robust local team dedicated to marketing,A&R,and artist management,with the vision to discover and cultivate local talent across the GBA. Additionally,its mission is to transform the local music scene by blending global musical trends with the Greater Bay Area's vibrant and youthful energy. This innovative approach not only taps into the region's rich musical heritage but also engages with the expansive entertainment landscape,offering innovative and immersive entertainment experiences that captivate audiences worldwide.

In making the announcement,Timothy Xu,Chairman and CEO of Universal Music Greater China,said,"The launch of UMCGBA represents a strategic expansion,leveraging the vast market potential and unique cultural atmosphere of the Greater Bay Area. We eagerly anticipate welcoming the outstanding talents from this region to join us in driving forward,the next era of Chinese pop music. In this pursuit,we are setting our sights on transforming the GBA into a trendsetting hub that epitomizes creativity,vitality,and connectivity,crafting fresh musical expressions and innovative entertainment experiences."

Adam Granite,Executive Vice-President,Market Development of Universal Music Group,"Our commitment to the Greater Bay Area is part of UMG's global strategy to invest in local and regional music scenes,particularly in rapidly growing markets like China. By deepening our roots in local cultures and enhancing support for local artists,we aim to elevate the Chinese music landscape and introduce its unique sounds on the world stage."

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About Universal Music Group

At Universal Music Group,we exist to shape culture through the power of artistry. UMG is the world leader in music-based entertainment,with a broad array of businesses engaged in recorded music,music publishing,merchandising and audiovisual content. Featuring the most comprehensive catalogue of recordings and songs across every musical genre,UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry,innovation and entrepreneurship,UMG fosters the development of services,platforms and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. For more information on Universal Music Group visitwww.universalmusic.com.