Universal Music Group Finalizes ‘Strategic Global Alliance’ With Aerosmith 29 Days From Long-Awaited IPO
Slash performing live with Aerosmith in the group’s native Massachusetts. Photo Credit: bobnjeff
Universal Music Group and Aerosmith have officially inked a “strategic global alliance,” which will see the stock market-bound record label become the official home of the nearly half-century-old rock group’s recorded catalog, future releases, merch line, and more.
Universal Music Group – which is slated to arrive on the Euronext Amsterdam in 29 days, on Tuesday, September 21st – just recently unveiled the high-profile deal. Like the “global partnership” agreement that Madonna struck with Warner Music last week, the UMG-Aerosmith union includes the Rock and Roll Hall of Fame-inducted group’s “entire recorded catalog,” encompassing 15 studio albums.
Unlike Madonna’s WMG partnership, however, Universal Music “will also be the home of future music projects” from Boston-based Aerosmith. Additionally, the Big Three label – which reported a 38 percent year-over-year revenue increase across 2021’s first two quarters – intends to work with the commercially successful act “to develop, produce and distribute new film, television and other audio-visual content projects celebrating Aerosmith’s history and significant cultural impact.”
Details about these new music releases and visual-media projects will become available “shortly,” Universal Music Group specified. Also on this front, the leading record label – over seven percent of which now belongs to Pershing Square Holdings – is set to formally assume ownership of Aerosmith’s recorded catalog next year. Plus, the Vivendi subsidiary will “make use of unprecedented access to the storied ‘Vindaloo Vaults’ and personal archives of band members Steven Tyler, Joe Perry, Tom Hamilton, Joey Kramer and Brad Whitford.”
Addressing the deal in a statement, Aerosmith lead guitarist and co-founder Joe Perry said: “It’s been a long road but I’m extremely happy and proud to say on behalf of Aerosmith we have been able to bring our 50 years of music under one roof by partnering with UMG.
“This will allow us to bring our music to our fans in ways we never were able to before. It’s something we’ve dreamed about happening for a long time. It’s a win for Aerosmith, UMG and ultimately our fans. Needless to say we are very excited. It’s an incredible way to celebrate 50 years and the many more years to come,” finished the 70-year-old Perry, whose newest solo album, Sweetzerland Manifesto, released in 2018.
Aside from the aforementioned partnership with Madonna, Warner Music Group in June acquired French DJ David Guetta’s recorded catalog (the deal also includes future releases) for a reported $100 million. More broadly, the Aerosmith contract represents the latest in a long line of noteworthy plays from Universal Music, which last week finalized an exclusive partnership with London-based Moonbug Entertainment and moved to establish a greater market presence in China.
