Global Awe: Taylor Swift - Reigning Music Queen Dominating Billboard Charts
Feb 7, 2024 08:40 pm
According to Billboard's recent "Power 100" announcement, the exclusive artist of Universal Music Group (UMG) - Taylor Swift and UMG CEO are the two most influential figures in the music industry in the world. last year.
After Billboard announced the Top 100 most influential people in the music industry in the past year, the number 1 position in recent years was given by Chairman of the world's largest music company UMG - Sir Lucian Grainge. replaced by Taylor Swift.
Billboard affirmed at the beginning of the announcement: “No one in the music industry has wielded more power over the past year than Taylor Swift, who has made history in stadiums, movie theaters and on the charts. Billboard, leaving even the most seasoned executives speechless. While they have long celebrated her incredible popularity as a singer, songwriter, and performer, her strength as a strategic business leader is groundbreaking. came into sharper focus – and industry veterans picked up on that as they witnessed this girl's bravest and most creative risks.”
At 34, Taylor Swift is one of the most charismatic and influential leaders in the music industry – she's rewriting the rules.
At 34, Taylor Swift is one of the most charismatic and influential leaders in the music industry – she's rewriting the rules. “The advice I would give to the other executives on this list is that the best ideas are often the ones that have no precedent in the industry,” Taylor told Billboard. When someone tells me, 'Those things have never been done successfully before,' it excites me. We have to take strategic risks every day in this industry, but every once in a while, you have to really trust your intuition and take a leap. My re-recordings are the best example of this and I am extremely grateful to my crew and the fans who joined me in making this change.”
UMG President Sir Lucian Grainge and Taylor Swift.
UMG President Sir Lucian Grainge and Taylor Swift.Although this year he ranked behind his company's exclusive artists, the CEO of Universal Music Group is still a pioneer and leader in the music industry for many years. Not satisfied with his position at the top of the music industry with the largest recording market share in the United States, in 2023, Sir Lucian Grainge continued to re-establish the duties and responsibilities of a leader. He emphasized the need for a “new model” for the music business, advocating an “artist-centric” approach to eliminate fraud and increase the creative value artists deserve. deserve to receive. The UMG president's speaking out has led to new proposals from major online music platforms such as Deezer and Spotify, as well as partnerships with TIDAL and SoundCloud, to research how artists can enjoy benefit more fairly from the industry's dominant revenue generators.
Over the past year, UMG has grown strongly, increasing its current market share from 33.6% in 2022 to 35.8% in 2023. The 10 biggest albums in the US, according to Luminate — all distributed by Republic Records – part of Universal Music Group – This is also the top record label of the year voted by Billboard for the third consecutive year. In the company's third fiscal quarter, UMG generated 7.9 billion euros (about $8.8 billion), growth that "exceeded our expectations" and continued to maintain its status as a most successful in the history of the music industry” in 2024.