Universal Music Group Chairman and CEO Lucian Grainge announced today that Zach Horowitz would be moving from his position as President and Chief Operating Officer at UMG to become the new Chairman and CEO of Universal Music Publishing Group. UMPG owns more than 40 companies worldwide, imcluding Universal Publishing Production Music, the world's biggest music licensing library.
"Zach's appointment to lead UMPG is testament to how important publishing is to my plans for UMG's future," said Grainge in a statement. "For nearly two decades, he has championed the interests of our publishing company and been the key architect of its growth. Now I want him to concentrate full time on maximizing UMPG's true potential in this challenging marketplace."
In assuming his role as the chairman/CEO of Universal Music Publishing, he takes on day-to-day control of the company he was responsible for overseeing when he formally served as UMG's president and chief operating officer. Horowitz has been chairman of the board of Universal Music Publishing Group for years: that board currently consists of Evan Lamberg, (president of North America), Paul Connolly (president, UK and Europe), Eddie Fernandez (senior VP, Latin America), Andrew Jenkins (executive VP Asia Pacific Region/industry affairs), Gary Gross (worldwide president, Universal Publishing Production Music), and Michael J. Sammis (executive VP, operations & CFO worldwide).
Horowitz will still be overseeing the company's government relations and public policy activities in his new role, while also retaining his status as a board member for both UMG Management and Vevo.
In placing Horowitz inside Universal Music Publishing Group, the company is apparently responding to the stepped-up pressure facing it, now that Sony/ATV appears likely to control the largest portfolios of publishing assets in the world. According to multiple sources, the European Commission is expected to announce tomorrow its approval of the purchase of EMI Music Publishing by the Sony Corp. of America-led consortium.
That acquisition will give Sony/ATV, which will remain a separate company but serve as administrator for EMI Music Publishing, control of publishing assets that generated about $1.26 billion in annual revenue, Billboard estimates, as opposed to the $900 million that UMPG produces annually. Previously, UMPG had been the largest owner of publishing assets in the world.
While at UMG, Horowitz has been instrumental in helping acquire and integrate Geffen, Interscope, and Polygram Holdings under the Universal umbrella, the latter of which included Def Jam, Island, A&M, Motown, and Deutsche Grammophon. He also was key in integrating Rondor Music (an independent publisher), BMG Publishing, and Polygram's publishing holdings, which helped boost UMPG to its status as the largest music publisher in the world.
"I take great pride in having helped UMPG become the industry leader," said Horowitz in the statement. "Lucian's mandate is to build on our strong foundation, committing all necessary resources to innovate, acquire, expand and lead. The challenges and opportunities facing songwriters and publishing companies have never been more significant. From initiating new ways to super-serve our writers so the return on their creativity is maximized, to proactively empowering new partners and business models so the full potential of the digital revolution is realized, this is a transformational moment in the history of music publishing."