UMG Eyeing Expansion In Asia And Africa
September 30, 2014 at 3:57 AM (PT)
UNIVERSAL MUSIC GROUP's parent company, VIVENDI SA has its sights set on international expansion after spinning off some subsidiary properties. The growth will come from UNIVERSAL MUSIC GROUP AND TV's CANAL+ GROUP.
DIGITAL JOURNAL reports, "VIVENDI is looking to use capital from the offloads of its global telecom assets -- the corporation has sold French telecom purveyor SFR, Moroccan unit MAROC TELECOM, Brazilian unit GVT over the past calendar year -- to help enlarge its existing companies’ international presence.
One of the targeted areas for UMG growth is ASIA, which DIGITAL JOURNAL notes, "has long been an important concern for UNIVERSAL MUSIC. Asian nations are not only populous but are also some of the most technologically progressive (except for JAPAN, which retains an inexplicable preference for CDs over downloads or streaming). UNIVERSAL has long had an influence in the region, signing popular local artists and marketing global stars across the Asian sphere, and is now looking to continue growing in Southeast Asia’s emerging markets. UNIVERSAL MUSIC INDONESIA recently inked a deal with social media site MIGME, in which they would collaborate on marketing and promotions. It also signed an exclusive deal with SMART, a local CAMBODIAN mobile operator, to allow them to distribute and sell their music to the company’s subscribers."
The article adds VIVENDI is also eyeing AFRICA for UNIVERSAL MUSIC GROUP and CANAL+ GROUP.